2023-12-01 23:10:11
© Reuters. Cryptocurrencies: bitcoin and ethereum rise, in anticipation of crypto ETF and Fed interest rate cut
The rose more than 2% this Friday, approaching the US$40,000 level, as investors follow the progress of negotiations surrounding the launch of a crypto ETF fund in the USA. The increasingly strong prospect that the beginning of the Federal Reserve’s monetary easing cycle is close to beginning is also driving negotiations.
The Securities and Exchange Commission (SEC) met with Grayscale, BlackRock (NYSE:) and this week to talk about requests for authorization to launch an ETF in bitcoin, according to the report. CNBC. There are expectations that a fund of this type could open the door to a much wider investing audience.
Julius Baer further notes that crypto market fundamentals are also accelerating.
“Trading volumes have increased and so has network activity,” the bank said in a note to clients.
At around 5:10 pm (Brasília time), bitcoin was up 2.64%, at US$38,725.37 (R$188,960.44). It rose 2.40%, to US$2,089.91 (R$10,197.72). Quotes are from Binance.
*With information from Dow Jones Newswires
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