Bitcoin Breaks $60K for First Time Since April
Bitcoin price has hit $60,000 for the first time since April this year, after reports of approved Bitcoin ETF trading.
The price of Bitcoin breached the $60K mark on Monday and is trading at a price of $61,051 with a market cap of more than $112 billion.
ETFs Likely To Be Approved
Bloomberg reported that there was indications to suggest that the Securities and Exchange Commission ([SEC])(https://www.sec.gov/) would be likely to approve several Bitcoin futures ETFs to begin trading next week.
The CME group is seen to have the most likely chance of being approved. If this happens, it will make Bitcoin even more attractive to traders and help push up prices of the cryptocurrency higher.
SEC Give Positive Reception
The approval of a Bitcoin ETF was also highlighted back in August when VanEck submitted a proposal to the SEC which received a positive reception from them.
Many expect that once Bitcoin futures are approved, there will be a new interest in trading it and this would help push up its price.