Bitcoin ETF

Bitcoin

Autism

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 The price of Bitcoin (BTC) quickly surged to $34,000 amid recent developments in the Bitcoin ETF space.
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<div class="cointelegraph">
 <p>Uptober may have finally arrived, with the price of Bitcoin (BTC) breaking through the $34,000 mark for the first time since May last year, marking a staggering 14% gain in the past 24 hours.&nbsp;</p>
 <p>The price of Bitcoin <a rel="noopener noreferrer nofollow" title="sudden" href="https://thebittimes.com/tag/sudden.html">sudden</a>ly spiked upwards on Oct. 23, with BTC gaining more than 10% from $31,000 to briefly touch $34,000 before settling down to a current price of $33,349 according to data from TradingView.&nbsp;</p>
 <figure><img src="https://cdn.thebittimes.com/images/2023/10/24/f021d7ac8e0c7777d3e8b4d5f173cd93.webp">
  <figcaption style="text-align: center;"><em>The price of Bitcoin over the past two weeks. Source: TradingView</em>
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 <p>The <a rel="noopener noreferrer nofollow" title="sudden" href="https://thebittimes.com/tag/sudden.html">sudden</a> uptick in price for Bitcoin comes amid a fresh wave of interest in upcoming spot ETF approvals and a significant increase in overall trading volumes across spot markets.&nbsp;</p>
 <p>Analyst Scott Johnson pointed out that investment giant Blackrock may soon begin the process of "seeding" their spot ETF product as early as this month.&nbsp;</p>
 <p>Bloomberg ETF analyst Eric Balchunas wrote that seeding an ETF is when initial funding is provided in exchange for ETF shares which can be traded in the open market.&nbsp;</p>
 <blockquote class="twitter-tweet">
  <p lang="en" dir="ltr">Note: Seeding is typically not a lot of money just enough to get ETF going. So I wouldn't read this as 'omg Blackrock is buying a ton of bitcoin' at all but more the fact they doing it and disclosing it shows another step in the process of launching.</p>— Eric Balchunas (@EricBalchunas) October 23, 2023
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 <p>Crypto market commentators and community members were left dumbfounded by the <a rel="noopener noreferrer nofollow" title="sudden" href="https://thebittimes.com/tag/sudden.html">sudden</a> move upwards. With independent journalists Autism Capital asking their 237,000 followers; "what the heck just happened?"&nbsp;</p>
 <blockquote class="twitter-tweet">
  <p lang="en" dir="ltr">Wait, what the heck just happened? pic.twitter.com/JFX0pr9fFI</p>— Autism Capital (@AutismCapital) October 23, 2023
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 <p class="post-content__disclaimer">This is a developing story, and further information will be added as it becomes available.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-suddenly-rockets-past-34k-as-etf-excitement-grows-tbt67487.html">https://thebittimes.com/bitcoin-suddenly-rockets-past-34k-as-etf-excitement-grows-tbt67487.html</a></p>

Bitcoin suddenly rockets past $34K as ETF excitement grows

TheBitTimes

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