Bitcoin eyeing $60,000, looking to create a new ATH after news of SEC allowing Bitcoin Futures ETF

Bitcoin activity in the last 24 hours. Source: CoinMarketCap

Bitcoin has surged by 5% today to as high as $59,800 and is well set on its track to surpass its previous ATH (All time high) price of $64,813. After Bloomberg News reported on Thursday that the US Securities and Exchange Commission (SEC) would allow the Bitcoin futures ETF to trade for the first time in the US.

Furthermore, an official Twitter handle of SEC that focuses on investor education also published a tweet in regards to the futures ETF trading.

Many investors were anticipating this move for a long time now and with the news breaking right now, it’s not hard to imagine a strong cryptocurrency rally by the end of this year.

While there are cryptocurrency ETFs in other countries such as Canada, this is the first time the US will also see trading of ETFs next week.