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Following the approval of the first-ever U.S.-listed exchange-traded funds (ETFs) intended to follow the largest cryptocurrency in the world by regulatory bodies on January 11, Bitcoin remained stable. A wider spectrum of investors is anticipated to find Bitcoin more enticing as a result of this noteworthy development.
11 applications, including those from significant participants including BlackRock, Ark Investments/21Shares, Fidelity, Invesco, and VanEck, were approved, the Securities and Exchange Commission (SEC) said on Wednesday. It is expected that trading will start later in the day for the majority of these approved items.
The price of Bitcoin reached $46,337 at the end of Asian trading hours, with very little movement. Ahead of the SEC's approval earlier this week, it had hit its highest peak in 21 months at $47,897. Bitcoin experienced a remarkable 156% rise last year, partly due to the good expectations surrounding this regulatory milestone.
Ether, the second-largest cryptocurrency, increased by a small 0.2% to $2,590.20 in the meantime. It recorded the best performance since May 2022 on Wednesday, when it peaked at $2,644.
