© Reuters.
NEW YORK – The cryptocurrency market is being supported by expectations of potential approval from the U.S. Securities and Exchange Commission (SEC) for bitcoin exchange-traded funds (ETFs). Bitcoin, the leading cryptocurrency, notably appreciated, gaining more than 3% to reach $44,163. The rise follows a high earlier in the week, when bitcoin briefly topped $45,000.
The enthusiasm has spread to crypto-related stocks. Notable movements in the market include:
- Coinbase (NASDAQ:), a major cryptocurrency exchange, saw its shares rise 2.2%.
- Marathon Digital Holdings (NASDAQ:), a cryptocurrency mining company, saw a significant jump of 12.1%.
- Riot Platforms (NASDAQ:), another player in the cryptocurrency mining industry, recorded a 5% increase.
Additionally, investment products focused on cryptocurrencies are also benefiting from the bullish sentiment. The ProShares Bitcoin Strategy ETF (NYSE:BITO) and Grayscale Bitcoin Trust (OTC:GBTC) saw their value increase by 3.5% and 4.8%, respectively.
Investors are closely watching the market as the January 10 deadline approaches, when the SEC is expected to announce its decision on the bitcoin spot ETF proposal.
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