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Bitcoin trades past $36 000 on possible ETF investment approval

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Bitcoin gained as much as 3.6% to $36 856 on Thursday in Asian hours, the highest level since May 2022.

Bitcoin rose to an 18-month high as expectations of an approval for exchange traded funds to invest in the largest crypto token intensified. Smaller tokens Ether rose as much as 2.2% while Solana advanced 3.2%. Digital tokens Terra and Luna, sparked a deep rout last year that wiped out $1.5 trillion of the crypto market.

brief window of at least eight days opened on Thursday for the US Securities and Exchange Commission to “theoretically issue approval orders,” according to a note by Bloomberg Intelligence analysts James Seyffart and Eric Balchunas. “Even if approvals don’t arrive this month, we still believe there’s a 90% chance of approval by January 10,” they wrote.

 

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