Yiannis Giokas, Senior Managing Director of Moody's Analytics, conducted an in-depth analysis of the factors behind the recent surge in Bitcoin prices. Giokas stated that the biggest driving force behind the surge in Bitcoin prices may be the number of applications for spot Bitcoin ETFs, which are expected to be approved by the SEC in January. Competition to launch these tools is heating up, with large asset management companies ready to buy more BTC before the launch of spot Bitcoin ETFs in order to provide ETFs to retail and institutional investors.