Will the SEC give the green light to Bitcoin?

Shri

Bitcoin supporters say that an ETF backed by the largest cryptocurrency will represent a watershed moment for digital assets. This involves the potential influx of funds from retail and institutional investors, affecting interests amounting to billions of dollars.

Michael Anderson, co-founder of the crypto venture capital firm Framework Ventures, stated, "The market still significantly underestimates the potential impact of a Bitcoin ETF approval."

The U.S. Securities and Exchange Commission (SEC), under the leadership of Gary Gensler and Jay Clayton, had previously rejected the introduction of such products due to concerns about investor protection and the potential for market manipulation. However, since the SEC's defeat in a crucial legal battle with crypto asset management company Grayscale Investments in August, speculation in the market suggests that regulatory authorities may have to approve the launch of such products.

The market's bet on regulatory approval for Bitcoin has driven the cryptocurrency to soar by approximately 160% last year. However, this has not been enough to bring Bitcoin back to its all-time high set in November 2021, when it reached nearly $69,000.

Since the beginning of 2024, Bitcoin has remained within the range of around $44,000. As of the time of writing, Bitcoin has declined by approximately 1%, reaching $43,567.

Iti9

I feel there's an 80% possibility.

Jatin255

A little decline is also normal.

Jiger955

It's possible, or it may not happen. It's really not important.

Ritu77

It's still good to read more news.