Two news in the morning, Bitcoin burst 15%! Spark the "Uptober"?
After U.S. financial lawyer Scott Johnson released news that BlackRock obtained the CUSIP code of the Bitcoin spot ETF, the price of Bitcoin broke through $35,000 and continued to rise. Bloomberg ETF analyst Eric Balchunas said BlackRock's subsidiary iShares Bitcoin Trust has been listed on DTCC under the ticker symbol IBTC, part of the process of bringing spot bitcoin ETFs to the market. As for Grayscale, its case against the SEC has ended, and the D.C. Circuit issued a final ruling ordering the institution to cancel the decision to reject the Grayscale spot Bitcoin ETF application. The market expects that once the Bitcoin spot ETF is explicitly approved, the market is expected to have continued upward momentum before it officially goes live. However, this positive stimulus is expected to wane somewhat as the world is in the context of financial constraints and deflation. In the long term, Bitcoin spot ETFs are expected to be an important engine to propel Bitcoin into the next bull market.
