Bitcoin rises to $45,000!. Bitcoin is taking off… | Jamen Mendes | Coins | December 2023
Bitcoin is taking off due to the imminent approval of BitcoinETF!
rainitcoin has gained enough momentum to reach today’s price of $45,000. There is nothing stopping Bitcoin from breaking new records and taking the world by storm. moon!
There is surprising optimism across the entire cryptocurrency sector as Wall Street’s biggest investment firms, including BlackRock, Fidelity, Vanguard, and ARK Invest, await the imminent approval of BitcoinETF.
According to industry analysts, James Seypart:
BlackRock has reportedly modified its Bitcoin ETF over the past 24 hours to accommodate regulators’ (SEC) final limit concerns regarding the custody and security of Bitcoin assets.
According to CCN’s article:
BlackRock continues to move forward with plans for a proposed spot Bitcoin exchange-traded fund (ETF). The asset management giant filed an amended Form S-1 with the SEC on Monday, December 4, 2023, the second amendment seeking regulatory approval for the new investment vehicle.
The Securities and Exchange Commission has yet to approve a spot Bitcoin ETF in the U.S., but there is growing optimism that 2023 could finally be the year. BlackRock’s latest filing provides new details about the structure and operation of the proposed “iShares Bitcoin Trust.”
The fund aims to give investors exposure to Bitcoin price fluctuations by holding the cryptocurrency directly, unlike Bitcoin futures ETFs that are already traded. Service providers such as cryptocurrency exchange Coinbase have been appointed as custodians and prime brokers.
The filing explains that customers’ Bitcoin will be held in a combination of “omnibus cold wallets” and “omnibus hot wallets” by Coinbase, the ETF’s designated custodian and prime broker. Custodians keep most of their assets offline in cold storage for security reasons.
bitcoin price action
Bitcoin is up more than 4.5% in the last 24 hours and is trading in a range of $41,700 to $44,000. in fact…