MOSCOW, October 24 The cost of Bitcoin on Tuesday morning is growing by more than 12% and has already exceeded 35 thousand dollars — for the first time since May last year, follows from trading data.
Cryptocurrency is rising in price after reports of Grayscale's victory in the appeal court in the case of creating the first exchange-traded fund (ETF) for Bitcoin.
On the Binance exchange, the largest cryptocurrency exchange by volume, as of 7.35 Moscow time, Bitcoin rose in price by 12.46% per day — to $34,447. At around 5.00 Moscow time, the cost of the cryptocurrency exceeded $35,000 for the first time since May 2022, jumping to a maximum of $35,280.
According to the CoinMarketCap portal, which calculates the average price for more than 20 exchanges, the cost of Bitcoin grew by 12.4% — to an average of $34,445. The dynamics are also given per day.
Bloomberg previously reported that the US federal appeals court officially recognized the victory of Grayscale Investments in the case of creating an exchange-traded fund for Bitcoin. Thus, the court overturned the decision of the US Securities and Exchange Commission (SEC), which had previously denied the company the creation of an ETF.
The judge called the SEC's decision «arbitrary» because the regulator could not explain why similar products had previously been approved.
According to Bloomberg Intelligence analysts cited by the agency, approval of a Bitcoin ETF “looks imminent,” although uncertainty remains.