The Block16 minutes ago

Published on January 05, 2024 15:58 GMT+00:00edited on January 05, 2024 16:01 GMT+00:00

Bitcoin declined on Friday as the broader crypto market waited for news from the Securities and Exchange Commission about its ongoing review of more than a dozen applications for spot ETFs. The price of the world's largest cryptocurrency by market capitalization declined 1.6% to $43,442 at 10:57 a.m. ET.

Despite a brief pullback earlier this week, ETC Group Head of Research André Dragosch said there is still substantial evidence supporting the possible approval of a spot bitcoin ETF in January.

"We have received even more evidence since the sell-off on Wednesday that suggests there is still no material change in investor expectation regarding an ETF approval in January," he said, noting fresh filings from several applicants. "To the contrary, we have even received more …