Bitcoin (BTC), the most substantial cryptocurrency, has surpassed $40,000, making waves in the financial ocean. This bullish rally that has gained momentum this week has been a sore eyes for the cryptocurrency industry.
Bitcoin has surpassed $40,000 for the first time since the spring of 2022. Bitcoin, which recorded growth of more than 10% last week, is currently basking in the glory of its $41,200 price tag. CoinMarketCap.
The surge in Bitcoin price did not occur in a vacuum. This has been fueled by growing optimism surrounding spot Bitcoin ETFs. This financial tool is set to open the floodgates to existing and institutional investors, allowing them a piece of the Bitcoin pie.
The SEC adds to the excitement by hinting at a potential green light for at least one Bitcoin ETF in the near future.
Financial heavyweights such as BlackRock, VanEck, Fidelity, Valkyrie, Grayscale, and several others are patiently awaiting approval for a spot BTC ETF. The Bitcoin bulls seem to be running wild, and it is a thrilling sight to witness.