Making waves in the financial seas, the most substantial cryptocurrency, Bitcoin (BTC), has breezed past the $40,000 mark. This bullish rally, gaining momentum over the week, has been a sight for sore crypto-eyes.
For the first time since the spring of 2022, Bitcoin has grazed the $40,000 milestone. Clocking in a growth of over 10% in the past week, Bitcoin is currently basking in the glory of a $41,200 price tag, as per the data from Coinmarketcap.
The surge in Bitcoin’s price hasn’t happened in a vacuum. It’s been fueled by the growing optimism encircling the spot Bitcoin ETFs. This financial tool is set to open the floodgates for traditional and institutional investors, allowing them a slice of the Bitcoin pie.
Whispers from the SEC hint towards a potential green light for at least one spot Bitcoin ETF in the near future, adding to the excitement.
Financial heavyweights like BlackRock, VanEck, Fidelity, Valkyrie, Grayscale, and several others are patiently waiting in the wings with their spot BTC ETF approvals. The Bitcoin bull seems to be on a rampage, and it’s a thrilling spectacle to witness.