Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $61,500 on Saturday, still up by 4% in 24 hours. 

The pair had hit $62,940 hours after the Wall Street open on Friday as news hit that regulators had green-lit two ETF applications after years of failed applications.

These ETFs will have CME Bitcoin futures as the underlying asset, rather than Bitcoin itself, with the Securities and Exchange Commission (SEC) set to begin deciding the fate of "physical" ETFs next month.

Futures-based ETFs have had a mixed reception, with opinions varying considerably on their market impact and overall effect on Bitcoin price action.

"We are not sure if these futures-based ETFs will be able to draw enough new money to trigger an exponential move higher like the one we saw in Q4 2020," crypto trading firm QCP Capital stated in its latest market update.

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $61,500 on Saturday, still up by 4% in 24 hours. 

The pair had hit $62,940 hours after the Wall Street open on Friday as news hit that regulators had green-lit two ETF applications after years of failed applications.

These ETFs will have CME Bitcoin futures as the underlying asset, rather than Bitcoin itself, with the Securities and Exchange Commission (SEC) set to begin deciding the fate of "physical" ETFs next month.

Futures-based ETFs have had a mixed reception, with opinions varying considerably on their market impact and overall effect on Bitcoin price action.

"We are not sure if these futures-based ETFs will be able to draw enough new money to trigger an exponential move higher like the one we saw in Q4 2020," crypto trading firm QCP Capital stated in its latest market update.