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Trading Firm QCP Capital Warns Bitcoin Spot ETF Approval Unlikely in the US

June 22 (Cointime) - According to QCP Capital, the chances of a spot price exchange-traded fund (ETF) for Bitcoin being approved in the United States are low. Despite the recent 20% increase in BTC price action since BlackRock applied to list a U.S. spot Bitcoin ETF, all previous spot ETF applications have been rejected by the Securities and Exchange Commission (SEC).

QCP believes that while institutional involvement in Bitcoin is likely to increase, the current SEC makeup and leadership of Gary Gensler make it unlikely that spot ETFs will be approved in the near future. However, QCP acknowledges the potential for institutional BTC and ETH in the asset management world in the coming months and years.

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