Major cryptocurrencies spiked on Monday evening amid growing anticipation for the approval of a spot-based BTC exchange-traded fund (ETF).
| Cryptocurrency | Gains +/- | Price (Recorded 9:30 p.m. EST) |
| Bitcoin BTC/USD | +6.45% | $46,527 |
| Ethereum ETH/USD | +4.71% | $2,309 |
| Dogecoin DOGE/USD | +2.28% | $0.079 |
What Happened: The rally occurred as investors eagerly await a regulatory decision for the first spot-based bitcoin exchange-traded funds in the U.S., expected sometime this week.
Most market observers anticipate approval, with bulls predicting that these funds would significantly broaden the investor base for the asset and attract substantial inflows.
Today, major asset management companies like BlackRock, Fidelity, and Grayscale submitted updated S-1 filings to the Securities and Exchange Commission (SEC). Multiple issuers also disclosed the fees they would charge investors.
Two days before the SEC is expected to approve one or more spot Bitcoin ETFs, all…
