Bitcoin breaks $45K, Bitcoin spot ETF expected to be approved this week

A new year, a new beginning. Bitcoin surged this morning, reaching a high of $45,372, also driving up other public chains such as Ethereum, Solana, Cardano, and Avalanche.

Bitcoin Spot ETF May Get Approval This Week

During the New Year holiday, Reuters reported that the SEC may notify approved ETF issuers this week, with the earliest approval expected on Tuesday or Wednesday, and the ETF could be launched on January 10.

However, Fox Business reporter Eleanor Terrett believes that due to many resubmitted S-1 applications last Thursday and Friday, the SEC still needs time to review. If the SEC follows a similar approval timeline as the Ethereum futures ETF in October, the agency will communicate with issuers after this round of review on the date they wish to submit the final S-1, which would take effect within the following 24-48 hours. However, she also believes that the next two weeks will be exciting for cryptocurrencies!

While the @SECGov is surely unpredictable, it would surprise me if approvals were to happen tomorrow.

From what I understand through conversations I’ve had with issuers, the SEC still has to review all the changes made to the S-1s filed on Thursday/Friday AND make comments on… https://t.co/CnkYdXsbD4

— Eleanor Terrett (@EleanorTerrett) January 1, 2024

Top 10 Market Cap Cryptocurrencies' Price Changes

The rise of BTC has also led to increases in other public chains, with ETH, SOL, ADA Cardano, AVAX Avalanche, and DOT Polkadot all seeing increases of over 3% in the past 24 hours.