According to Bloomberg, cryptocurrency stocks have gained momentum following the US financial regulator's approval of exchange-traded funds (ETFs) that invest directly in Bitcoin. This landmark decision has extended the impressive gains these stocks have experienced over the past year. Shares in the Bitcoin cryptocurrency exchange platform had already begun to rally prior to the SEC's decision.
Deutsche Bank analysts consider the approval a significant milestone. They stated, 'For now, the spot Bitcoin ETF approval opens a new chapter for Bitcoin prices, though volatile conditions are likely to persist.'
