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following a decade-long struggle to seal regulatory approval.Bitcoin [BTC]topped$49,000, hitting a fresh two-year high during the day as the ETF trading frenzy commenced, then sold off, dropping to $46,000.UPDATE (Jan.

11, 2024, 18:14 UTC):Updates volume figures, adds analyst comment and bitcoin price action.Nick Baker is CoinDesk's deputy editor-in-chief.

He won a Loeb Award for editing CoinDesk's coverage of FTX's Sam Bankman-Fried, including Ian Allison's scoop that caused SBF's empire to collapse.

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