US Regulators Warming Idea Of Spot Bitcoin ETFs Approval: Report

According to Forbes, US Regulators are reportedly warming to the idea of spot Bitcoin ETFs approval. Meetings between SEC and applicants have progressed to key technical details. Experts believe the approval window is January 5-10, 2024. Meetings between the Securities and Exchange Commission (SEC) and investment funds seeking to list Bitcoin ETFs have accelerated in recent weeks, leading applicants to make changes to their filings based on regulators’ feedback. Grayscale, along with firms like BlackRock and Fidelity, is among the dozen companies that have applied for a Bitcoin ETF. This type of ETF would allow investors to gain exposure to Bitcoin without directly owning the digital asset. Bitcoin has surged approximately 160% year-to-date, outperforming major stock indexes, although it remains about 35% below its late 2021 peak. This resurgence comes after a challenging 2022 for cryptocurrencies, marked by bankruptcies and financial turmoil. Bitcoin fell slightly after hitting $44,500 over the last 24 hours. As of this writing, the king of cryptocurrency is trading for $43,500. The entire cryptocurrency market capitalization is up nearly 1% today, now valued at $1.6 trillion. Source