Last updated on November 2, 2023
According to a report by JPMorgan and Bloomberg Intelligence, analysts believe that the U.S. Securities and Exchange Commission (SEC) is likely to approve a Bitcoin Exchange-Traded Fund (ETF) before January 10, 2024. Despite the SEC’s reservations about cryptocurrency, the analysts predict that a Bitcoin ETF will be approved in the near future. The approval of a Bitcoin spot ETF is highly anticipated by the crypto markets and institutional investors, as it would open up digital asset exposure for hedge funds and potentially lead to a surge in institutional investments. SEC Chair Gary Gensler has remained tight-lipped about the SEC’s stance on a Bitcoin ETF, but Coinbase’s chief legal officer, Paul Grewal, expressed hopefulness that the ETF applications will be approved based on the law.
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