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Bitcoin surpasses $ 61,500 before a possible imminent approval of exchange-traded funds with the cryptocurrency

Not even the outlawing of cryptocurrency transactions in China is holding it back: the value of Bitcoin has risen 5% throughout today and has exceeded $ 61,500, also pushing the value of other cryptocurrencies such as Ethereum.

It is the highest value since April and before the mid-year crash, and is very close to the maximum value of $ 64,804.72. The reason for this increase is the possible future approval of the first exchange-traded funds (or ETFs) of Bitcoin futures.

Bitcoin exchange traded funds, another possible boost to its value

Bloomberg has commented that the limit for that to happen is next week, and everything indicates that chances are high that it will be approved. Chris Kline, head of operations for the Bitcoin IRA retirement fund, says in Reuters that these ETFs are “unavoidable” and that we could see them this Monday.

The United States Market and Stock Commission itself has tweeted in this regard, advising that any investor interested in these ETFs should carefully review the benefits and risks of doing so.

You can’t predict what will happen to the stock if those ETFs end up getting the green light, but there are those who believe that we could see new records of the value of Bitcoin. Meanwhile, despite China’s ban, we are seeing timid gestures from companies like Twitter allowing tips with cryptocurrencies and studying NFTs.

Image | Bermix Studio