Bitcoin Stabilizes as Historic ETES Approval Unfolds; ETH new highs and ETC Skyrocket by 40%
At last, the U.S. Securities and Exchange Commission (SEC) has given the green light to the much-anticipated Bitcoin (BTC) spot ETFS. And no, this isn't another piece of fake news. On Wednesday night (January 10), the SEC officially announced the approval of the ETFS on its website, ending a decade-long wait. However, the decision was not unanimous within the SEC itself. Of the five commissioners who voted, including Chair Gary Gensler, two were against the approval: Caroline Crenshaw and Jaime LizĂĄrraga. The other three (Mark Uyeda, Heister Peirce, and Gensler) voted in favor. Despite the ETF's approval, Bitcoin's price didn't react as strongly as many had anticipated. Indeed, the cryptocurrency opened higher on Wednesday, but with a modest increase of 2.4%â the smallest gain in the Top 10, excluding stablecoins. This brought Bitcoin's price back to around $46,000.
