Bitcoin hits 21-month high at $45,000: ten things to know

economictimes.indiatimes.com:

Bitcoin breached the $45,000 mark for the first time since April 2022. What led to the high? Will the rally sustain in 2024?

Here are 10 things to know about recent developments in the crypto space:

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1. Bitcoin touched a 21-month peak of $45,532 on Tuesday amid rising expectations that the US Securities and Exchange Commission (SEC) would soongive the go-ahead to exchange-traded spot bitcoin funds.
2. The most well-known crypto token gained 156% last year in its strongest yearly performance since 2020.
3. Despite the rally, Bitcoin remains far from its record high of $69,000, which it touched in November 2021.
4. Notably, the US SEC has rejected multiple applications to launch spot bitcoin ETFs in recent years citing that the crypto market is vulnerable to manipulation. However, in recent months, there have been increasing signs that regulators are prepared to approve at least a few of the proposed spot bitcoin ETFs.
5. BlackRock Asset Management, VanEck, Valkyrie Investments, Bitwise Investment Advisers, Invesco, Fidelity, WisdomTree Investments and a joint venture between Ark Investments and 21Shares are among those hoping to be the first towin regulatory approval to launch BTC ETFs. Credit: CoinMarketCap
   
6. As per a Reuters report, the Fidelity Wise Origin Bitcoin Fund is poised to be the least expensive, levying fees of only 0.39%. Invesco plans for a 0.59% fee, but said it would waive that fee for six months on the first $5 billion in assets the new fund attracts.