Major money management firms are increasingly confident that the Securities and Exchange Commission (SEC) will make cryptocurrency history in early January by approving the first spot Bitcoin exchange-traded fund, FOX Business has learned. Sources close to these companies say recent guidance from SEC officials is that the green light will likely be given by January 10, 2024. This is the deadline during which the SEC can approve or deny an application from the first company to seek the SEC’s blessing. The technical picture of the cryptocurrency charts for Bitcoin and its smaller brothers indicates a bullish sentiment in the market. Stock up on cash and keep an eye out, ladies and gentlemen! Everything will happen immediately after the New Year holidays – quickly and lightning fast.
Invest amid the seize the Bitcoin Boom
Bitcoin is once again approaching its all-time high, yet this surge in price has not significantly increased retail investor interest. Despite hitting $73,562 on October 29, the cryptocurrency's popularity among retail investors remains tepid, with search trends and app rankings showing little change.