Saturday, August 16, 2025

Latest

Bitcoin Soars Above $60K Amid Speculation SEC Will Approve First US Bitcoin ETFs

Bitcoin was sent rallying above $60,000 Friday morning, amid speculation that the SEC may allow America’s first bitcoin ETF to begin trading as early as next week.

According to CNBC, which cited people familiar with the matter, the SEC is poised to abstain from blocking bitcoin ETFs from Invesco and ProShares, marking a significant milestone for the crypto industry, which has long sought to receive permission from US regulators. The bitcoin ETFs are said to be based on futures contracts and were originally filed under mutual fund guidelines, which SEC Chair Gary Gensler appears to be more receptive to as they offer investors increased protection.

Once officially approved, the funds will allow traders to indirectly invest in bitcoin, and they will be based on bitcoin futures that are currently trading on the Chicago Mercantile Exchange. Up until now, the regulatory body has insisted that the frequent volatility typically accompanying crypto markets poses too much risk for the approval of ETFs and other related funds.


Information for this briefing was found via CNBC. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Eldorado Gold Q2: Free Cash Flow Funds Development

SSR Mining Q2 Earnings: Cripple Creek Nearly Pays For Itself

Gold’s Next 12 Months Will Be the Trade of a Lifetime | Simon Marcotte – Northern Superior

Recommended

First Majestic Posts Record Free Cash Flow In Second Quarter

Silver47 Identifies 35 Mineralized Prospects Across 55 Km Trend At Red Mountain

Related News

Grayscale Won’t Disclose Proof Of Reserves

Parent firm Digital Currency Group at insolvency risk; reportedly owes Genesis $1.1 billion. Grayscale Bitcoin...

Monday, November 21, 2022, 11:39:00 AM

Hut 8 Mines 265 Bitcoin In November 2021

Hut 8 Mining Corp. (TSX: HUT) reported today its production results for the month of...

Thursday, December 2, 2021, 09:27:00 AM

Binance To No Longer Service Ontarians Following OSC Crackdown On Crypto Exchanges

It appears that the writing might finally be on the wall for the use of...

Saturday, June 26, 2021, 11:18:19 AM

US Treasury Proposes Stricter Cryptocurrency Compliance with IRS

In an effort to deliver on its promise to intervene in the cryptocurrency market, US...

Monday, May 24, 2021, 11:19:00 AM

Investment Firm’s Bitcoin Regression Model Projects Huge Future Price Gains

Hedgeye Risk Management, an investment research firm based in the U.S. state of Connecticut, published...

Sunday, June 27, 2021, 01:05:00 PM