Bitcoin Surges on Hopes of SEC Approving Spot BTC ETFs; BlackRock and Fidelity Seen as Top Contenders

Bitcoin saw a surge to over $35K fueled by optimism over imminent spot BTC ETF approval by SEC. BlackRock & Fidelity seen as front-runners.

Recent court victory for Grayscale spot BTC ETF application puts pressure on SEC to approve.

BlackRock's iShares Bitcoin Trust ETF listed on DTCC, seen as a precursor to SEC approval.

SEC remains cautious about spot BTC ETFs, concerned over potential manipulation and fraud.

If BlackRock gains approval, could set precedent for other firms like ARK, Fidelity and Valkyrie awaiting SEC nod.