Bitcoin Hits $60,000 Ahead of Potential US Regulator Approval
“Approval of an ETF that will buy bitcoin futures contracts—though not the coins themselves—would increase the cryptocurrency’s legitimacy and make it easier for institutional investors to get exposure. Four applications for bitcoin futures ETFs, submitted in August, are pending approval from the U.S. Securities and Exchange Commission,” WSJ wrote.
Cryptocurrency investors have been trying to have a bitcoin-based ETF approved since 2013. The Securities and Exchange Commission has frequently dismissed requests, claiming that bitcoin exchanges are too opaque to guarantee fair prices.