Bitcoin surged to over $47,000, its highest level since April 2022, as investors anticipate the approval of a spot-based Bitcoin ETF in the U.S.
The approval of the Bitcoin ETF could lead to a significant rally in the price of Bitcoin, attracting more investors and inflows.
Asset management giants BlackRock, Fidelity, and Grayscale have submitted updated filings to the SEC for Bitcoin ETF approval.