The SEC’s stance on spot #Bitcoin ETFs is wavering, and approval is on the horizon, says Bernstein’s research report!

The SEC’s concerns about spot prices being prone to manipulation are valid, but the industry is proposing a surveillance agreement between spot exchanges and regulated exchanges like Nasdaq.

In the meantime, the lack of a spot #Bitcoin ETF is driving the growth of over-the-counter products like Grayscale Bitcoin Trust (GBTC).

A regulated ETF could replace them and revolutionize the institutional market!

It’s a race against time as asset managers like BlackRock, Invesco, and WisdomTree scramble to file applications for a spot #Bitcoin ETF.

The courts are also questioning the logic of approving futures-based ETFs while denying spot-based #Bitcoin ETFs.

The SEC wants to regulate the #crypto market with a #Bitcoin ETF backed by Wall Street heavyweights, rather than dealing with unregulated products like Grayscale’s GBTC.

A spot #Bitcoin ETF approval could unleash a tidal wave of investment, reshape the #crypto landscape, and skyrocket the price of #BTC!

Bitcoin Chart

Bitcoin is still in an uptrend on the daily timeframe, as the structure is forming higher highs and refusing to go lower than the previous price.

Bitcoin if spot ETF is approved, will attract the world’s billionaires to digital assets.