Bitcoin Surges on ETF Optimism, Approaching $30,000

Bitcoin approaches $28,000 as Grayscale's hopes for a spot ETF are revived after the SEC decides not to appeal a court ruling that criticized its initial rejection of Grayscale's Bitcoin ETF filing. The discount on Grayscale's Bitcoin Fund (GBTC) has decreased to 15.8%, the lowest since late 2021. Solana, an "Ethereum killer," sees a 5% increase in value, while Binance's BNB token rises by almost 3% after a $450 million burn of tokens. The wider cryptocurrency market gains 2.4%, adding $24.8 billion to the total market cap.