Skip to main content


A wave of optimism around the potential approval of a spot Bitcoin exchange-traded fund (ETF) in the United States has ignited bullish price action in the crypto market in recent weeks. 

But that could be just the beginning: If a spot Bitcoin ETF receives a greenlight by the U.S. Securities and Exchange Commission (SEC), it would mark a major milestone in the history of digital assets.

The spot Bitcoin ETF will provide institutional investors with a simple and regulated way to get exposure to Bitcoin with potentially explosive consequences for the Bitcoin market.

According to many analysts, a spot Bitcoin ETF could spark a demand shock that, coupled with next year’s Bitcoin halving event, could spark the new crypto bull market.

The SEC has so far rejected all spot Bitcoin ETF applications, but two main factors make the current batch of applications different.

One is the involvement of BlackRock, the world’s largest asset manager, which filed for a spot Bitcoin ETF earlier this year.

The second is the court ruling that required the SEC to revisit a previous rejection of Grayscale’s application for a spot Bitcoin ETF application, defining the regulator’s process as “arbitrary and capricious.”

“The Grayscale decision ultimately says that you can’t allow Bitcoin futures ETFs to trade, and then argue that the same situation is not for spot Bitcoin ETF,” said James Seyffart, an analyst at Bloomberg Intelligence.

That is why, according to Seyffart, the odds of a spot Bitcoin ETF approval by early January are 90%. 

To understand why a spot Bitcoin ETF approval is a big deal and its potential impact on the market, check out the full Cointelegraph Report on our YouTube channel, and don’t forget to subscribe!


Source link

Leave your vote

Blockchain Beat

Author Blockchain Beat

More posts by Blockchain Beat

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

close

Log In

Forgot password?

Don't have an account? Register

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.