Battle for Spot Bitcoin ETF Approval: A Review of Crypto Markets’ Ongoing Struggle

The crypto market’s surge at the end of 2021 was triggered by the approval of a futures ETF. Now, the market eagerly awaits another ETF approval that could ignite the next bull season. However, the SEC Chairman seems determined not to deliver the eagerly anticipated news that crypto investors have been waiting for. Citing “manipulative markets” as the reason, the SEC is strongly opposed to the spot Bitcoin ETF. Spot Bitcoin ETF in Court Grayscale is currently providing corporate crypto investment services with its Bitcoin Trust and GBTC. However, since the fund does not support redemptions, it trades at a negative premium, and it is known that the company is determined to convert it into an ETF. Following the SEC’s refusal, Grayscale has taken the matter to court where the first hearing has taken place. There, SEC attorneys argued that approval cannot be granted due to Bitcoin’s highly manipulative nature. […] The post Battle for Spot Bitcoin ETF Approval: A Review of Crypto Markets’ Ongoing Struggle appeared first on COINTURK NEWS.