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CoinTelegraph's False Tweet on Bitcoin ETF Approval Highlights Market Anticipation

According to trading firm QCP, the recent false tweet by CoinTelegraph about the approval of a Bitcoin ETF by US regulators highlights the market's anticipation for such a product. BlackRock's surprise application for a spot ETF in June added to the list of firms aspiring to launch a similar product, but the SEC has been hesitant due to concerns about market manipulation.

Despite this, JPMorgan analysts expect approval for multiple products "within months," while QCP does not anticipate actual SEC approval this year, meaning the BTC trend is beholden to macro winds for the rest of Q4.

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