TD Cowen: SEC will approve spot Bitcoin ETF out of 'political necessity'

01/03 00:42

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Investment bank TD Cowen stated that the US Securities and Exchange Commission will approve a Bitcoin ETF before the January 10 deadline due to "political necessity." The TD Cowen Washington research team, led by Jaret Seiberg, wrote in the report: "For us, this is a political necessity because the agency needs to consolidate its role as a cryptocurrency regulator before Congress considers broader encryption legislation. We also believe that the agency does not want to lose legal challenges by refusing to approve a Bitcoin ETF."

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