Cryptocurrencies rise slightly as SEC Chair delivers gentle praise of Bitcoin ETFs

01 Oct 2021

SGT 0815
📈 BTC | $43,841 (+$402, +0.9%)
📈 ETH | $3,019 (+$48, +1.6%)
📈 XRP | $0.95 (+$0.01, +1.3%)
📈 LTC | $153 (+$2, +1.4%)

📈 Total Crypto Market Cap: $1.93T (+4.7%)

🏦 Sentiment in Bitcoin rose as the SEC Chairman Gary Gensler reiterated his positive view towards a specific class of Bitcoin ETFs – that would invest only in Futures contracts, and not the actual cryptocurrency itself. Industry watchers expect that a decision on approval could come as early as this month.

🚨 Billionaire Chamath Palihapitiya has declared that he has “hundreds of millions” of dollars in Bitcoin, stating that the way that Bitcoin was “architected” has made it “very hard to kill”. Chamath has been known in the past for publicly talking up investments he has a stake in such as Tesla and Virgin Galactic, before cashing out of his positions entirely at a later date.

🧐 Sharp price rallies in certain Layer 1 tokens recently – Avalanche, Algorand, Celo, have happened before the announcement of price-positive news (such as the setting up of multi-million dollar funds), raising questions about insider trading within altcoins.


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