Bitcoin (BTC) Price Saw 27% October Surge as Traders ‘Panic Bought’ Amid Spot Bitcoin ETF Enthusiasm. Is $40,000 Next for BTC?

ETFs would be a big deal for bitcoin because they’re far easier for the average investor to buy than the cryptocurrency itself or existing bitcoin investment products, like the Grayscale Bitcoin Trust (GBTC) with $21 billion assets under management. The U.S. Securities and Exchange Commission rejected GBTC’s conversion into one, but courts have eviscerated that decision, boosting the odds the SEC will have to approve that shift – and likely also bless ETF applications from the likes of BlackRock, the world’s largest asset manager.