[Bitcoin Now] Surpassing $33,000 on Spot ETF Approval Hopes... 11% Surge

Image source=Reuters·Yonhap News

Bitcoin prices surged nearly 11% amid growing expectations for the approval of a Bitcoin spot exchange-traded fund (ETF).

According to CoinMarketCap, a global virtual asset market tracking site, as of 8:24 a.m. on the 24th, the price of Bitcoin was $33,159 (approximately 44.88 million KRW), up 10.70% from the previous day. Compared to a week ago, it has risen more than 16%. This is the first time in about 1 year and 5 months that Bitcoin has surpassed $33,000.

The price increase in Bitcoin came as expectations grew that the U.S. Securities and Exchange Commission (SEC) is close to approving spot Bitcoin ETF applications submitted by asset management firms. The market anticipates approval around the end of this year.

Furthermore, if the ETF is approved, there are forecasts that Bitcoin prices will rise significantly. Anthony Scaramucci, CEO of U.S. investment firm SkyBridge, explained, "If BlackRock's spot Bitcoin ETF is approved, the value of Bitcoin could increase elevenfold," adding, "If ETFs from major financial institutions receive SEC approval, substantial capital inflows are expected."