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The Fate of Bitcoin's Price Hinges on Approval of US Bitcoin Spot ETF

July 5 (Cointime) - The fate of Bitcoin's price for the rest of the year depends on whether a Bitcoin spot ETF will be approved in the US. Joe Carlasare, a commercial litigator supporting Bitcoin, believes that there is a 30-40% chance of such a product launching within a year.

Grayscale's lawsuit against the US Securities and Exchange Commission (SEC) is seen as the market's best bet for launching a spot ETF, but even if Grayscale wins, it may not necessarily lead to a spot ETF. BlackRock's recent filing for a Bitcoin ETF has also faced challenges from the SEC.

Bitcoin Bitcoin $94,506.42
-3.53%
Bitcoin SEC Grayscale
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