Bitcoin Rebounds Above $44K as Spot BTC ETF Approval Looks Increasingly Likely
Reports swirled that the SEC was giving final comments to issuers and may approve multiple spot-based bitcoin ETF applications very soon.
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Reports swirled that the SEC was giving final comments to issuers and may approve multiple spot-based bitcoin ETF applications very soon.
A mundane year of flows turned nicely higher in the final quarter of last year as excitement rose surrounding spot bitcoin ETFs.
The Financial Services Commission cited concerns “about illegal outflow of domestic funds overseas due to card payments on overseas virtual asset exchanges.”
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CoinDesk has viewed a letter dated Dec. 29 by the Reserve Bank of India (RBI) Governor Shaktikanta Das to staff that said the usage of the e-rupee (CBDC) “exceeded the milestone of 1 million transactions in a day on Dec. 27, 2023.” A separate letter from one of the banks participating in the e-rupee pilot said it had been encouraged it to deposit employee funds and benefits using the CBDC, rather than use the existing fiat currency.
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The latest price moves in bitcoin [BTC] and crypto markets in context for Jan. 4, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Buying the dip is one of the most famous narratives in the crypto community, indicating an intention to purchase the token when the price drops.
RDC’s aim is to address the institutional desire to bitcoin investment that may not be satisfied by a spot ETF.
Excitement over a spot bitcoin ETF – a regulated financial product that would give institutional and retail investors easier exposure to bitcoin’s price without requiring them to invest directly in the asset – continues to grow.