Bitcoin’s ETF Momentum is Spurring the Biggest Monthly Gains Since January
- SEC is seen as being on the verge of approving spot ETFs
- Bitcoin ‘white paper’ was introduced 15 years ago today
Bitcoin has rallied about 27% in October, the biggest monthly increase since January.
Photographer: Lam Yik/BloombergThis article is for subscribers only.
Fifteen years after the unofficial launch of Bitcoin, digital-asset enthusiasts are touting the cryptocurrency as finally being on the verge of mainstream acceptance.
Bitcoin has rallied about 27% in October, the biggest monthly increase since January, on surging expectations that the US Securities and Exchange Commission may soon approve exchange-traded funds that invest directly in the cryptocurrency after more than a decade of deliberation. Bitcoin was trading at around $34,450 on Tuesday, compared with $16,540 at the end of last year.