) briefly surpassed the $37,000 mark for the first time in 18 months as the wider markets reflect optimism over the pending approval of spot BTC exchange-traded funds in the United States.Bitcoin Futures were also trading over $37,000 soon after, with price data from the Chicago Mercantile Exchange going as high as $37,450 at 5:22am EST.to the pending approval of 12 separate spot Bitcoin ETFs over the next week.
According to Bloomberg ETF analysts James Seyffart and Eric Balchunas, the SEC has a window up until Nov. 17 to approve a number of high-profile offerings from prominent U.S. fund managers.Meanwhile Grayscale, which is the largest cryptocurrency asset manager in the U.S., has also reportedly engaged the SEC directly as it looks to convert its Grayscale Bitcoin Trust to a spot Bitcoin ETF. The US is yet to see a spot Bitcoin ETF approved.