In a notable shift, the growing confidence among investors regarding the imminent approval of spot Bitcoin ETFs by the Securities and Exchange Commission (SEC) is evolving from mere speculation to a palpable belief.
With the SEC’s impending decision on the approval or denial of these applications, rumors have fueled upward momentum in the cryptocurrency market. Fueled by a sense of anticipation and optimism, data from the cryptocurrency group indicates a remarkable 4.37% increase in the past week alone, contributing to a staggering year-to-date performance of approximately 199.82%.
Reflecting this positive atmosphere, the ETC Group Physical Bitcoin (BTCE) experienced an uplift, resulting in gains of up to 3.12% for the week.
Notably, major cryptocurrency exchanges are riding the wave of optimism surrounding the anticipated SEC approval. For instance, Coinbase stocks (COIN) demonstrated robust performance over the week, registering an impressive 18.65% gain.
