Bitcoin was trading 2.57% higher on Friday morning, nearing $60,000 per coin.
The price was around $58,865 per coin, while rivals Ethereum and Dogecoin were trading around $3,758 (+3.26%) and around 22.6 cents (-3.72%) per coin, respectively, according to Coindesk.
Early Friday morning, Bloomberg reported the Securities and Exchange Commission is prepared to let the first U.S. Bitcoin futures exchange-traded fund begin trading, according to people familiar with the matter.
Bitcoin was trading 2.57% higher on Friday morning, nearing $60,000 per coin (iStock)
Unlike Bitcoin ETF applications that the regulator has previously rejected, the proposals by ProShares and Invesco Ltd. are based on futures contracts and were filed under mutual fund rules that SEC Chairman Gary Gensler has said provide “significant investor protections.”
The regulator isn’t expected to block the products from trading beginning next week, sources asking not to be named reported.
A spokesperson for the SEC declined to comment, as did an official at ProShares.