Bitcoin climbs back to $45,000 as investors await ETF decision this week

Bitcoin experienced a rise at the beginning of the week as investors eagerly awaited the potential approval of a U.S. bitcoin ETF. On Monday, the cryptocurrency’s value increased by 1.5% to $44,854.11. Several prominent bitcoin ETF issuers, including BlackRock and Grayscale, submitted final updates to the Securities and Exchange Commission (SEC). These updates, which included important fee disclosures, have instilled confidence among investors that the approval of a bitcoin ETF is becoming more likely. Experts predict that the SEC will approve multiple applications simultaneously to level the playing field. Former SEC chair Jay Clayton commented that approval is inevitable and would be a significant milestone for both bitcoin and the finance industry as a whole. The decision would create new avenues for institutional investments and highlight the value of cryptocurrencies like bitcoin and ether. The optimism surrounding bitcoin also led to a 1% increase in ether’s value. Several firms vying for a bitcoin ETF have also applied to launch spot ether ETFs. The rest of the cryptocurrency market remained stable.