Cryptocurrency news: Bitcoin crosses $60,000 mark, Polkadot up 8.4%

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Nine of the top cryptocurrencies were trading in green in the past 24 hours, with the world’s oldest and largest cryptocurrency Bitcoin crossing the $60,000 mark. The crypto’s price increased by 3.79% to $61,560.07 on Saturday. Meanwhile, Polkadot gained the highest by 8.49% and was trading at $44.04. Alt coin Solana on the other hand increased by 5.51% to $159.41, while others like Cardano and Dogecoin inclined by 2.17% and 2.50% respectively. The second largest token Ethereum climbed by 0.29% to $3,844.27. In terms of ranking, all the cryptocurrencies were in the same position.

Cryptocurrency prices

The Securities and Exchange Commission (SEC) of the United States will more or less likely allow the first Bitcoin futures Exchange Traded Fund (ETF) to start trading next week, according to Bloomberg.com.

This comes after a long push from the $6.7 trillion ETF industry, that lasted for close to a decade and could be a watershed moment for cryptocurrencies. It also added that the SEC will most likely not block products from start trading next week.

Previously, the SEC has blocked Bitcoin ETF applications. The SEC also said that the current proposals from ProShares and Invesco are based on futures contracts and provides significant investor protections, as it is filed under mutual fund rules.

Its Bitcoin vs gold this Diwali

Promoted by Bollywood’s leading stars, Amitabh Bachchan and Ranveer Singh, cryptocurrencies will now be pitched as another option during the annual gold shopping spree of India.

For Diwali, Indians have expanded their investments to include stocks, real estate, diamonds and other assets. Crypto exchanges like Bengaluru-based CoinSwitch Kuber and CoinDCX are touting Bitcoin as another option.