Bitcoin traded higher after the SEC approved the first US bitcoin ETFs to start trading, as expected. Bitcoin rose 2.7% to $47,060. The approval of bitcoin ETFs is seen as a major milestone for the crypto industry, which had sought to launch one for over 10 years. Bitcoin's price has risen 80% since August, when Grayscale won a legal case over its bitcoin trust against the SEC. Bitcoin initially dipped after the approval as some expected, but trading volumes have risen across exchanges, and mining stocks also gained on expectations of higher bitcoin demand and prices long-term.