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Bitcoin and other cryptocurrencies were largely gaining on Thursday. Enthusiasm continues to build ahead of the expected approval of exchange-traded funds which will hold Bitcoin directly.

Bitcoin has risen 0.8% at $43,014 over the last 24 hours. The largest cryptocurrency has mostly traded in a range of between $41,000 and $44,000 since early December but has more than doubled in 2023.

The...

Bitcoin and other cryptocurrencies were largely gaining on Thursday. Enthusiasm continues to build ahead of the expected approval of exchange-traded funds which will hold Bitcoin directly.

Bitcoin has risen 0.8% at $43,014 over the last 24 hours. The largest cryptocurrency has mostly traded in a range of between $41,000 and $44,000 since early December but has more than doubled in 2023.

The key driver continues to be the expected approval of Bitcoin exchange-traded funds as soon as early January, as the Securities and Exchange Commission finalizes its discussions with potential ETF issuers.

The SEC has indicated to firms hoping to launch Bitcoin ETFs that it will give the green light for them to go ahead by Jan. 10, according to Fox Business, citing people close to the firms.

Ethereum rose 6.2% to $2,388. Among smaller cryptocurrencies, Cardano rose 8%, but Solana fell 7.1%. Dogecoin was up 1.4%.

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Write to Adam Clark at adam.clark@barrons.com

Link:
Bitcoin Rises as the Countdown to ETF Approval Is On - Barron's