Bitcoin's value surged by nearly 10 percent, hitting $34,872, its highest point in 18 months. This surge was sparked by growing optimism surrounding the potential approval of a bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC). A Bitcoin ETF could open up access for cautious investors through the stock market, potentially bringing in significant new investment.
Ethereum also experienced a 4.50 percent increase, reaching $1,786.30, its highest value since August. This positive trend extended to related stocks, with major players like Coinbase Global and MicroStrategy seeing substantial gains. The crypto market is buzzing with anticipation, eagerly awaiting updates from the SEC. The recent court ruling favoring Grayscale Investments' ETF application further bolsters hopes for ETF approval.