Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

Crypto stocks are registering gains as <a href="https://news.todayq.com/bitcoin-will-hit-50000-in-january-2024-says-matrixport-with-proof/" target="_blank" rel="noreferrer noopener">Bitcoin (BTC) maintains its 11-day high</a> in anticipation of approval coming in for an Exchange-Traded Fund (ETF) from the US Securities and Exchange Commission (SEC). Key players in the crypto mining sector, including Riot Platforms gained 3% and Marathon Digital with a 3.1% rise, contributed to the positive momentum. US-listed shares of Hut 8 Mining are also up by 3.8%, signaling a broad upswing in the crypto stock market. Crypto stocks boom 
According to the data, Coinbase Global Inc (NASDAQ: COIN), the US’s biggest crypto exchange, registered positive premarket performance with a 2.87% increase in its stock price. It is trading at an average price of $161.86. 
MicroStrategy Inc (NASDAQ: MSTR) witnesses a massive pre market surge of around 15%. However, its shares are trading at a price of $573.47, at the press time, while, in pre-market, it rose to $588. 
Riot Platforms, Inc. (RIOT) is currently priced at $16.95, indicating a pre-market increase of 3.04%. Grayscale Bitcoin Trust (BTC) is priced at $35.83, showing a 2.56% increase. Robinhood Markets Inc. is currently at $12.62, reflecting a 0.55% decrease today, while in pre-market trading, it shows a 1.90% increase. 
Bitcoin price hovered around the $44k mark amid the increasing optimism in the market. However, BTC is trading at an average price of $44,100, at the press time. Its 24 hour trading volume is up by 33% to stand at $29 billion. Will this rally continue? 
According to the report, the Bitwise Crypto Industry Innovators ETF (BITQ) indicates an impressive 245% surge in 2023 for crypto stocks. This growth surpasses the 165% jump in the price of Bitcoin (BTC) and the 145% increase in the ProShares Bitcoin Strategy ETF (BITO), which is futures-based. 
A growing marketing campaign around spot Bitcoin ETFs is already underway. It is expected to intensify with multiple issuers upon SEC approval. The anticipation of the commission’s approval has sparked excitement. 
However, industry insiders are speculating that it could act as a catalyst for the entire crypto market. This includes boosting spot Bitcoin ETFs, crypto stock ETFs like BITQ, and futures-based Bitcoin ETFs such as BITO. 
Big players in the finance industry, including BlackRock and Fidelity, are growing increasingly confident in the SEC approving the first “spot” Bitcoin ETF in early January. FOX’s inside sources indicated that the SEC’s recent guidance suggests a likely green light by January 10, 2024. This will mark the final deadline for the first spot Bitcoin ETF application from Ark Investment Management in collaboration with 21Shares. 
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Crypto stocks rally as Bitcoin hits 11-Day High

Todayq News

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