Bitcoin Soars Past $49k as Spot Bitcoin ETFs Debut on US Exchanges

SEC's approval of 11 proposed spot bitcoin ETFs triggers market euphoria, driving bitcoin's price up and leading to a divergence in bitcoin and ether prices.

• Bitcoin price soared past $49,000 for the first time in over a year, driven by the launch of multiple spot bitcoin ETFs on American stock exchanges.
• Despite a security incident involving a false approval statement, the Securities and Exchange Commission (SEC) ultimately approved 11 proposed spot bitcoin ETFs.
• Bitcoin and ether prices diverged sharply following the SEC's false start, with bitcoin sinking 5% and ether rising 6%.
• Spot bitcoin ETFs made their public market debut in the US, raking in over $4 billion in trading volume.
• BlackRock's IBIT emerged as the winner in terms of day-one trading volume, surpassing $1 billion.

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