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Warm start to a historic week for crypto: will bitcoin ETFs be approved?

The regulator is expected to announce its decision in the coming days

This Monday, the cryptocurrency markets kick off a key week for their future in the short, medium and long term. Bitcoin (BTC) is practically flat at this time, trading just below $44,000, while Ethereum (ETH) trims moderately to $2,220.

This week, the Securities and Exchange Commission (SEC) must announce whether or not it authorizes the marketing of spot bitcoin exchange-traded funds (ETFs) in the US. Speculation around these investment products has been the great catalyst for the market's rise in recent months, leading bitcoin to return to trading at prices prior to the high-profile bankruptcies that took place in the spring of 2022 and caused the bear market of that time.

In recent days, some of the exchanges on which these ETFs will be listed filed amended documents on behalf of some of the issuers of these funds, such as BlackRock or Grayscale, suggesting imminent approval. In statements to specialized media such as 'CoinDesk', some sources have revealed that, although it does not mean that approval is guaranteed, within the stock exchanges they are very optimistic on this front. The Commission is expected to give a response around January 10, but it could arrive sooner.

Although an overwhelming majority of investors are awaiting approval from the US regulator, there are still those who are moderately skeptical, both from the point of view of approval and its effect on prices. Numerous analysts have predicted that these investment products will lead bitcoin to equal or exceed the all-time highs of $100,000 reached in November 2021.

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