{"id":179575,"date":"2023-10-23T22:57:12","date_gmt":"2023-10-23T17:27:12","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=179575"},"modified":"2023-10-23T22:57:12","modified_gmt":"2023-10-23T17:27:12","slug":"bitcoin-blasts-past-31000-as-optimism-for-btc-spot-etf-surges-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-blasts-past-31000-as-optimism-for-btc-spot-etf-surges-crypto-news\/","title":{"rendered":"Bitcoin Blasts Past $31,000 as Optimism for BTC Spot ETF Surges – Crypto News"},"content":{"rendered":"
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Bitcoin soared past $31,000 per coin on Monday as hype around a spot Bitcoin ETF led to increased optimism in the space.<\/p>\n

The largest digital asset by market cap was priced at $31,284 at the time of writing, a rise of nearly 5% in 24 hours, according to CoinGecko. The coin is up more than 11% in the past seven days.<\/p>\n

Bitcoin was last this high in mid-July. It has since dropped as low as $25,133 but largely hovered between $26,000 and $27,000 per coin.<\/p>\n

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Bulls have flooded the space as talk about a spot Bitcoin ETF has investors hopeful that the long-awaited crypto product will soon get approval from the U.S. Securities and Exchange Commission.<\/p>\n

A Monday CoinShares report showed<\/a> that institutional investors are pouring money into the space; JPMorgan analysts said<\/a> last week that a spot Bitcoin ETF could be approved by Christmas.<\/p>\n

High-profile investment firms that have applied to the SEC for a spot ETF are fine tuning<\/a> their applications in the hope that the regulator will give them the green light.<\/p>\n

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So two things caught my eye from the latest iShares (Blackrock) S-1 amendment:
– They’ve obtained a CUSIP in prep for a launch
– They may be looking to seed with cash this month (which is earlier than I would’ve thought, but may be nothing) pic.twitter.com\/lMDaKxiIbB<\/a><\/p>\n

\u2014 Scott Johnsson (@SGJohnsson) October 23, 2023<\/a><\/p>\n<\/blockquote>\n<\/div>\n

Investors have been hungry for a spot Bitcoin ETF for the best part of a decade but Wall Street’s biggest regulator experts say has denied applications for such a product, mostly citing the potential for market manipulation as one of the main reasons.<\/p>\n

But analysts are now more optimistic than ever before: BlackRock, world\u2019s biggest fund manager, applied<\/a> for a Bitcoin ETF of its own. Not long after, manager Grayscale scored a victory against the SEC when a federal judge sided<\/a> with the firm over its application to convert its flagship Bitcoin fund into an ETF.<\/p>\n

The rest of the crypto market is up, too. Ethereum, the second biggest cryptocurrency, is up by over 3% in the past day, trading for $1,685. While Dogecoin, the 10th largest, is up by more than 5%, trading hands for $0.06.<\/p>\n

Bitcoin is up 88% since the start of the year, when on January 1 it was trading hands for $16,615. But it is still way below\u2014by 55%\u2014its November 2021 all-time high of $69,044.<\/p>\n

Edited by Stacy Elliott<\/a>.<\/i><\/p>\n

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Stay on top of crypto news, get daily updates in your inbox.<\/h3>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin soared past $31,000 per coin on Monday as hype around a spot Bitcoin ETF led to increased optimism in the space. The largest digital asset by market cap was priced at $31,284 at the time of writing, a rise of nearly 5% in 24 hours, according to CoinGecko. The coin is up more than […]<\/p>\n","protected":false},"author":2,"featured_media":179576,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-179575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179575","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=179575"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179575\/revisions"}],"predecessor-version":[{"id":179578,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179575\/revisions\/179578"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/179576"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=179575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=179575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=179575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}