50-50 Chance of SEC Approval for Bitcoin ETFs, Despite Regulatory Crackdown

Despite recent regulatory crackdowns, major asset managers including BlackRock, Fidelity, and Invesco are still applying to list spot Bitcoin exchange-traded funds (ETFs). The race to launch an ETF is being led by Cathie Wood's ARK Invest and 21Shares, with a final deadline for approval set for January 10, 2024. Bloomberg Intelligence analysts estimate a 50-50 chance of approval for a spot Bitcoin ETF, with BlackRock's ETF application already causing a 22% increase in Bitcoin's spot price since its filing on June 16. Experts are optimistic about the SEC finally approving a spot Bitcoin ETF, with key safeguards in place to meet the SEC's requirements.

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