Bitcoin Slips but Cryptos Stay Afloat as ETF Hopes Persist

and other cryptocurrencies weakened Thursday, but digital assets remained at relatively elevated levels as hopes persist that regulators will soon approve a spot Bitcoin exchange-traded fund—a key catalyst for cryptos that has loomed for months. The price of Bitcoin has slipped 1% over the past 24 hours to $28,250, remaining near the highest consistent levels since mid-August following a rally that began last Friday. The latest injection of optimism comes amid bets that the first spot Bitcoin exchange-traded fund (ETF) could soon begin trading, ushering in a fresh wave of retail and institutional investor interest in cryptos and signaling more widespread adoption.