The price of Bitcoin rose to $38,016, surpassing the $38,000 level for the first time in approximately a year and a half over the past 24 hours.
This continuous rise in Bitcoin prices is supported by market investors' expectations of immediate approval for the exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC).
The SEC's decision to postpone the final approval date for Hashdex and Grayscale's applications regarding the conversion of futures-based Bitcoin investment funds into immediate funds had no significant impact on Bitcoin's price, which continued its strong upward trend.
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