Posted 11/18/2023, 12:45:57 PM
SEC Advice to Crypto Firms Sparks Optimism for Bitcoin ETF Approval This Year
- SEC allegedly engaging with crypto exchanges on spot bitcoin ETF applications, advising cash creates over in-kind
- Bloomberg analysts view engagement as positive sign, though some question cash create preference
- Comes as ETF approval window closes, with firms like BlackRock seeking bitcoin spot ETF approval
- News sparked bitcoin price surge from $36k to nearly $37k as traders react
- Overall sentiment that SEC progress signals increased likelihood of ETF approval this year