Bitcoin passed the $30,000 mark on Friday as hopes for the approval of a spot bitcoin exchange-traded fund (ETF) increased. It is the first time it reached this price since August. 

The bullish sentiment is driven by industry circumstances. Last week, four House Financial Services Committee members wrote a letter to the Securities and Exchange Commission, urging it to listen to the courts and halt efforts to keep bitcoin ETFs from getting approval. 

BlackRock, which filed for an ETF application in June, amended its filing last week. It is the first big name on Wall Street to use JPMorgan’s blockchain-based collateral settlement system. 

Insiders have been closely watching the news about ETF applications. False reports of the approval of BlackRock’s ETF application spread last week, and temporarily boosted the price of coins like Ethereum and XRP.

Hitting the two-month high caps off a volatile week

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Sun Oct 22 2023 Bitcoin Hits Over $30K Fueled By Hopes of U.S. ETF Approval

FTX Creditors File Class Action Against Bankruptcy Law Firm

Revolut to Distribute $1.2 Million in BONK

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Revolut to Distribute $1.2 Million in BONK

Sun Oct 22 2023

Bitcoin Hits Over $30K Fueled By Hopes of U.S. ETF Approval