{"id":353548,"date":"2021-10-14T19:26:03","date_gmt":"2021-10-14T16:26:03","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-surges-5-as-optimism-grows-for-sec-approval-of-etf\/"},"modified":"2021-10-14T19:26:03","modified_gmt":"2021-10-14T16:26:03","slug":"bitcoin-surges-5-as-optimism-grows-for-sec-approval-of-etf","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-surges-5-as-optimism-grows-for-sec-approval-of-etf\/","title":{"rendered":"#Bitcoin surges 5% as optimism grows for SEC approval of ETF"},"content":{"rendered":"<p>&#8220;<strong>#Bitcoin surges 5% as optimism grows for SEC <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roval of ETF<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>Bitcoin is surging amid hope that the Securities and Exchange Commission is close to approving an exchange-traded fund that incorporates the digital coin.\u00a0<\/p>\n<p>Bitcoin was trading at about $57,500 on Thursday morning, up 5 percent over the previous 24 hours, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinbase.com\/price\/bitcoin\">Coinbase data<\/a>.\u00a0<\/p>\n<p>The surge could be tied to hopes that the SEC is close to approving a bitcoin futures ETF, Blockchain.com research chief Garrick Hileman told The Post.\u00a0<\/p>\n<p>\u201cThere\u2019s growing optimism around a long-weighted bitcoin ETF approval,\u201d said Hileman, who\u2019s also a visiting fellow at the London School of Economics. \u201cThere seems to be optimism that it could even happen this quarter.\u201d\u00a0<\/p>\n<p>Any approval of a bitcoin-related ETF would broaden investor exposure to the cryptocurrency and send its price soaring, Hileman said.<\/p>\n<p>SEC Chairman Gary Gensler appears more likely to approve a bitcoin futures ETF than a a fund that holds bitcoin directly because he has said that rules around futures ETFs provide greater protections for investors.<\/p>\n<p>A slate of asset managers <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1448399009522110467\">including Cathie Wood\u2019s ARK Invest<\/a> have applied to list bitcoin futures ETFs in recent months.\u00a0<\/p>\n<p>Additional factors sending bitcoin higher may include greater regulatory scrutiny of other crypto assets like so-called \u201cstablecoins,\u201d which are tied to the value of currencies like the US dollar.<\/p>\n<figure class=\"wp-block-image size-large is-style-default\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/Senate_SEC.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Gary Gensler\" class=\"wp-image-19801490\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/Senate_SEC.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/Senate_SEC.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/Senate_SEC.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Analysts say SEC Chairman Gary Gensler may be close to approving a bitcoin futures ETF, which analysts say would send bitcoin\u2019s price soaring.<\/figcaption><figcaption><span class=\"credit\">AP<\/span><\/figcaption><\/figure>\n<p>As Federal Reserve Chairman Jay Powell has signaled a potential crackdown on stablecoins, some crypto traders see bitcoin as a safer bet, Hileman said.<\/p>\n<p>\u201cThere\u2019s a much greater degree of regulatory clarity for bitcoin vs. other crypto assets,\u201d he said. \u201cYou might be seeing flows out of other areas of crypto with less regulatory certainty into bitcoin.\u201d\u00a0<\/p>\n<p>After a rough summer where bitcoin fell below $30,000, the cryptocurrency has been on a hot streak this fall. Bitcoin is up 27.9 percent over the past month and is only about $8,000 shy of its all-time record high from April.<\/p>\n<p>Other cryptocurrencies were also up on Thursday. Ethereum had surged 9.5 percent over the previous 24 hours to $3,800, while Cardano was up 4.2 percent at $2.21.\u00a0<\/p>\n<p>Shares of crypto exchange Coinbase, which are often correlated with bitcoin\u2019s price, were up 4.2 percent Thursday.\n                        <\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2021\/10\/14\/bitcoin-surges-5-as-optimism-grows-for-sec-approval-of-etf\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Bitcoin surges 5% as optimism grows for SEC approval of ETF&#8221; Bitcoin is surging amid hope that the Securities and Exchange Commission is close to approving an exchange-traded fund that incorporates the digital coin.\u00a0 Bitcoin was trading at about $57,500 on Thursday morning, up 5 percent over the previous 24 hours, according to Coinbase data.\u00a0&#8230;<\/p>\n","protected":false},"author":1,"featured_media":353549,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/USA-FED_DIGITAL-CURRENCY-1.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74862,117506,76127,77826,70934,72976,70360],"class_list":["post-353548","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-10-14-21","tag-cryptocurrency","tag-federal-regulation","tag-regulation","tag-securities-and-exchange-commission","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/353548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=353548"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/353548\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/353549"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=353548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=353548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=353548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}