Huge BTC News! | Bitcoin ETF Approval Incoming

 


Screeching halt of bull rally & ETF Approval Speculation:

The price of Bitcoin recently took a hit, falling by almost 10%. This drop comes in the wake of speculations surrounding the approval of a Bitcoin spot ETF, following Bitcoin's surge to a near two-year high of $45,000. As you can see from the charts, the market experienced a notable shift after reaching that impressive $45,000 mark. The anticipation of a spot ETF approval had played a significant role in driving the price up, but it seems the market responded differently than expected."

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SEC and its role:

The Securities and Exchange Commission (SEC) has been closely watched in this regard. According to an SEC spokesperson who spoke to FOX Business, if the Commission declares a registration statement effective, it will be reflected on EDGAR. Any Commission 19b-4 orders will be posted on their website and then published in the Federal Register.

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Lack of response from NYSE, Nasdaq, and CBOE:

Interestingly, press officials from major exchanges such as NYSE, Nasdaq, and CBOE haven't provided immediate comments on the situation. This adds an element of uncertainty to the current scenario.

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Potential benefits of ETF approval and conclusion:

Now, let's talk about what could happen if the approval does go through. Retail investors might gain greater exposure to Bitcoin, the world's largest cryptocurrency, at a lower cost compared to the already approved Bitcoin futures ETF. This could potentially open the doors for a larger pool of investors, especially with the involvement of trusted money management firms like BlackRock or Fidelity.


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