BTCToday, the price of ) increased by $63,000 in a matter of minutes. This is its highest level since April 18. The sudden price rise may have occurred after several documents indicated that the United States Securities and Exchange Commission would eventually approve a BTC futures ETF. These documents suggest that the regulator is close to approving the ETF. Apply to list Valkyrie’s Bitcoin Strategy exchange-traded fund ETF for listing on Nasdaq. Analysts pointed out that gold’s price had risen sharply leading up to the launch of the first U.S.-based gold ETF in 2004. Thereafter, the rally continued and gold’s price rose more than 300% since the ETF was approved, before forming a major top. A Bitcoin ETF was launched because of the similarities between Bitcoin and gold, both being store of value.

Everyday cryptocurrency market performance. Source: