Bitcoin jumped to $46,400 near a two-year high as investors welcomed long-awaited U.S. approval to create spot cryptocurrency exchanges. This procedure allows for institutional procurement. The measure had been expected for months, sending the currency up 70 percent since mid-October.
The SEC has agreed to change the rules to allow the creation of Bitcoin ETFs in the United States, and the decision is likely to turn Grayscale Bitcoin Trust, which owns about $29 billion of cryptocurrency, into an ETF, as well as launch rival funds from major issuers such as iShares and BlackRock's Fidelity."
Source (Al-Arabiya.net Website, Edited)
