Pro-crypto attorney poses crucial question on potential spot Bitcoin ETF emergence
The veteran crypto lawyer noted that while Grayscale's expectation of a Bitcoin ETF may not happen immediately, he debunked the crux of the Bloomberg news report, saying he believes a spot Bitcoin ETF is happening. Deaton, however, pointed out that the relevant question to ask is whether the much-sought-after approval will come this year or not.
Many companies in the financial world are jostling for a spot Bitcoin ETF approval with the U.S. SEC, which has until now rejected most applications filed in the past decade. The, Fidelity Investments and Bitwise are all optimistic that the SEC will have a change of heart in its stance on permitting the trading of a spot Bitcoin ETF.
This Grayscale win and the invalidation of the regulator's excuse of manipulation might either make or break the applications, but all in all, experts believe the win is a huge step forward.
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