Bitcoin has calmed at around $43,000 after the recent volatility propelled by the US Securities and Exchange Commission and the launch of 11 spot ETFs.

On a weekly scale, though, BTC is in the red, unlike most cryptocurrencies, such as ETH, which has soared by double digits.

BTC Down on ETF Approval Week

After years and years of delaying and rejecting countless applications, the US securities regulator finally greenlighted spot Bitcoin ETFs on Wednesday, and the products reached the markets a day later.

The whole development didn’t go without a few downturns, including a hack and a controversial statement by the SEC’s chair, Gary Gensler. This resulted in enhanced volatility for the underlying asset, which soared to over $49,000 on Thursday after the ETFs went live and slumped by more than seven grand in the next 36 hours.

The weekend has been a lot less eventful. BTC recovered some of the losses and has remained in a tighter range of around $43,000 for the past two days or so. Nevertheless, the asset is down by more than 2% weekly, which means that its market cap has slipped to $840 billion.