Bitcoin Holds Above $46K as ETF Approval Hopes Mount Amid Regulatory Concerns
• Bitcoin held above $46,500 on Tuesday after briefly touching $47,000 as ETF anticipation builds
• While most analysts expect SEC approval of a spot bitcoin ETF, some think approval could be delayed or denied due to market manipulation concerns
• BlackRock and VanEck filed updated bitcoin ETF documents on Tuesday, indicating they received SEC comments in the past 24 hours
• The discount on the Grayscale Bitcoin Trust (GBTC) narrowed to 5.6% on Monday, reaching the lowest level since April 2021
• Social media mentions of "bitcoin ETF" have spiked along with bitcoin's price, setting up potential "sell the fact" drop after approvals