Bitcoin breaks 30 day high passing $28k as SEC considers future of spot Bitcoin ETFs Bitcoin breaks 30 day high passing $28k as SEC considers future of spot Bitcoin ETFs
Highest trading value since August as Bitcoin starts the week strong
1 min read
Updated: Oct. 2, 2023 at 8:00 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Bitcoin’s value reached notable heights over the weekend, increasing 4% over the past 24 hours. It rose significantly to $28,200 on Oct. 2, marking its highest trading value since August, according to CryptoSlate data. This growth comes amidst persistent anticipation surrounding the future of spot Bitcoin exchange-traded funds (ETFs).
The U.S. Securities and Exchange Commission (SEC) recently submitted filings concerning these pending spot Bitcoin ETFs.
The SEC has clarified that the proceedings do not indicate any conclusions have been reached. The regulator is currently inviting public comments on various aspects of the proposed spot Bitcoin ETFs, including their potential vulnerability or resilience to fraud and manipulation.
These proceedings will likely dramatically impact the trading of spot Bitcoin ETFs on commodities exchanges. If the SEC approves the proposed rule changes, new trading opportunities for Bitcoin may emerge.
As the crypto world awaits the SEC’s decision, Bitcoin’s value continues to climb. The future of spot Bitcoin ETFs may have far-reaching implications for Bitcoin’s trading value and the broader cryptocurrency market.
Bitcoin Market Data
At the time of press 8:00 am UTC on Oct. 2, 2023, Bitcoin is ranked #1 by market cap and the price is up 3.5% over the past 24 hours. Bitcoin has a market capitalization of $547.76 billion with a 24-hour trading volume of $12.53 billion. Learn more about Bitcoin ›
Crypto Market Summary
At the time of press 8:00 am UTC on Oct. 2, 2023, the total crypto market is valued at at $1.11 trillion with a 24-hour volume of $34.95 billion. Bitcoin dominance is currently at 49.26%. Learn more about the crypto market ›
Author 
Liam 'Akiba' Wright
Also known as "Akiba," Liam Wright is a reporter, podcast producer, and Editor-in-Chief at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.