The crypto market eagerly awaits the US Securities and Exchange Commission's (SEC) decision on spot Bitcoin ETF applications.
The deadline for approving ETF applications expires on January 10, 2024, but the SEC has not yet announced its decision.
The approval of a spot Bitcoin ETF would be an important milestone for the crypto market. A spot Bitcoin ETF would allow investors to buy and sell Bitcoin directly on an exchange, which would make the digital currency more accessible to a wider audience.
The approval of a Bitcoin ETF would also increase institutional investors' confidence in the crypto market. Institutional investors, such as hedge funds and pension funds, have been cautious about investing in crypto assets due to market volatility.
The crypto market is confident that the SEC will approve at least one Bitcoin ETF. Bloomberg Intelligence estimates that the Bitcoin ETF market could reach $100 billion by 2025 if the SEC approves a spot Bitcoin ETF.
