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Investing.com - Major Cryptocracies made some gains Thursday morning in Asia after losing ground for two days.
Meanwhile, the Bitcoin Exchange-Traded Fund (ETF) under consideration by the US Securities and Exchange Commission (SEC) received negative feedback.
Bitcoin broke the $4,000 mark to reach its best in a week. Cryptocracy rose 1.21 percent to $4045 by 11:50 PM (03:50 AMGMT). Other coins were also sold more. Ethereum rose 1.10 percent to 139.08 dollars, XRP gained 1.19 percent to 0.31678 dollars and Litecoin gained 1.95 percent to 60.113.
SEC has reported that investment firm VanEck and financial services company SolidX have mainly sent negative comments on proposed rule changes to Bitcoin ETF. Six of the seven comments submitted by the SEC strongly urged regulators not to approve the proposal.
One opinion focused on Bitcoin's lack of value as a financial product, "minimal" volatility and market manipulation. Another urged the SEC to take an "observation and waiting approach."
SEC Chairman Jay Clayton was not immediately known after SEC's position was commented earlier, saying, "There may be times when Bitcoin ETFs can meet our regulations."
The move is believed to better protect cryptocurrency users from illegal activities such as extortion and money laundering. The bill will seek to prevent password-related risks. It also determines whether a company running a cryptographic trading platform should identify with a financial brokerage and be subject to financial market supervision.