Crypto Traders Increasingly Adopt 'HODL' Strategy Ahead of Potential Bitcoin ETF Approval

Many crypto traders are adopting a long-term holding strategy ahead of potential Bitcoin ETF approval. A recent survey found 64% prefer to hold.

Holding strategy, called "HODLing", reflects optimistic outlook that ETF approval could bring growth and mainstream adoption.

SEC approval of Bitcoin ETFs anticipated but timing remains unclear. Expected within months or by early 2024 deadline.

Traders motivated to hold by potential for high returns, access to tokens, and DeFi incentives like yield farming.

Caution remains as SEC Chair says no prejudgement on timing of approvals for proposed Bitcoin ETFs.