Biggest Crypto Gainers Today on Uniswap – XED, GMEE, NTVRK

cryptonews.com:

Blue chip crypto markets are pumping on Thursday, with Ether (ETH) last up over 8% in the past 24 hours and above $2,000 and Bitcoin (BTC) up over 6% and hitting fresh highs for the year above $37,000.

Bitcoin has been pumping more or less since the start of the Thursday Asia session on a renewed optimism that spot Bitcoin Exchange Traded Funds (ETFs) will soon gain approval following reports on Wednesday that the US Securities and Exchange Commission (SEC) is in active dialogue with digital asset manager Grayscale regarding their application to transform their Bitcoin Trust into a spot Bitcoin ETF.

The SEC has previously blocked all spot Bitcoin ETF applications, including from Grayscale, but suffered a legal defeat to the firm in August when a judge ruled their rejection of Grayscale’s application was “arbitrary and capricious”.

With Wall Street behemoths like BlackRock, Fidelity and dozens more having filed their own spot Bitcoin ETF applications back in June, the landscape appears to have shifted towards the SEC working with firms to prepare the ground for spot Bitcoin ETFs, rather than fighting against their existence.

This anticipation is part of the reason for Bitcoin’s pump since mid-October, though analysts have also cited 1) safe-haven demand on concerns about global geopolitics given the Israel/Hamas was and 2) an increasingly favorable macro environment, with US stocks having pumped and US yields having dumped since the end of October on bets that the Fed’s interest rate tightening cycle is over.

Ether, meanwhile, is pumping thanks to reports that BlackRock just filed to set up the iShares Ethereum Trust in Delaware, just as it did with its iShares Bitcoin Trust days ahead of filing its spot Bitcoin ETF