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The price of Bitcoin (BTC) quickly surged to $34,000 as excitement swelled over developments in the Bitcoin ETF space. Uptober may have finally arrived, with the price of Bitcoin breaking through the $34,000 mark for the first time since May last year, marking a staggering 14% gain in the past 24 hours. The price of Bitcoin suddenly spiked upwards on Oct. 23, with BTC gaining more than 10% from $31,000 to briefly touch $34,000 before settling down to a current price of $33,349. The sudden uptick in price for Bitcoin comes amid a fresh wave of interest in upcoming spot ETF approvals and a significant increase in overall trading volumes across spot markets. The surge also ca amid developments relating to BlackRock’s proposed spot Bitcoin ETF. On Oct. 23, an X (formerly known as Twitter) post from Analyst Scott Johnson, pointed to two new pieces of information that could hint a spot Bitcoin ETF approval is getting closer for investment giant Blackrock. Johnson pointed out that investment giant Blackrock had secured a specific "CUSIP" licence and may soon begin the process of "seeding" their spot ETF product with cash as early as this month. In response to this post, Senior Bloomberg ETF analyst Eric Balchunas wrote that seeding an ETF is "typically not a lot of money" and would be just enough to get an ETF going, however admitted that it is overall a good sign and marks "another step in the process of launching." #ContentStar# #BountyCreator# #GateioBountyCreator# #NewsMessenger# #GateLive# #contentstar# #HotTopicDiscussion#
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