Spot Bitcoin ETF Approval Is Almost Done Deal, Bloomberg Analysts Argue

There appears to be consensus that Bitcoin ETF approval is now nearly done deal

that the approval for a spot Bitcoin exchange-traded fund is nearly certain. They see a whopping 90% chance of such a product being approved by Jan. 10, 2024.their spot BTC ETF application have caught the attention of industry insiders. Bloomberg analysts point to these updates as evidence of a"constructive conversation" with the U.S. Securities and Exchange Commission . Such dialogue is generally seen as a positive indication of impending ETF approval.

Such an ETF would provide a more straightforward mechanism for investing in Bitcoin without the complexities and potential security concerns of direct cryptocurrency ownership or managing digital wallets. Furthermore, this legitimization could catalyze greater mainstream adoption.Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption.

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