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Bitcoin Price Fluctuates as Investors Anticipate SEC Decision on Tradable Investment Fund



New York (dpa)

Published on: Tuesday, January 9, 2024 – 8:42 PM | Last updated: Tuesday, January 9, 2024 – 8:42 PM

The price of the digital currency Bitcoin was traded today, Tuesday, at less than $47,000 per unit, while investors await the decision of the American regulatory authorities regarding approval of the launch of the first digital currency investment fund tradable on the stock exchange.

Bloomberg News Agency reported that the most famous and largest digital currency in the world rose for a short period to above $47,000 per unit, supported by many disclosures that revealed the fees that tradable investment fund companies intend to impose on their products, as soon as they obtain the green light to launch these. Boxes. But Bitcoin fell this morning by 1% to $46,643 per unit.

The US Securities and Exchange Commission is expected to issue its decision regarding some applications for tradable Bitcoin investment funds tomorrow, as observers expect a large group of approvals to be issued so that a small number of companies do not benefit from the privilege of exclusivity for a period of time with the right to practice this activity.

The price of Bitcoin has witnessed clear fluctuations since the beginning of this year due to speculation regarding proposed investment products. Simon Peters, economic analyst at eToro, says: “We are waiting for an important week with one of the most important events in the history of cryptocurrencies, which is the possible approval of the launch of tradable funds in Bitcoin.”

At the same time, the volume of monthly Bitcoin options transactions reached $29.9 billion, which is its highest level since 2021, according to the Caico platform for analyzing digital currency market data and serial data technology.

2024-01-09 18:43:14
#slight #decline #price #Bitcoin #today

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