What will happen in the crypto market if the SEC approves a spot bitcoin ETF are mixed?

This week marked the 15th year since the first block, the genesis block, was mined on the Bitcoin blockchain. For more than 10 of those years, industry stalwarts have pleaded with the Securities and Exchange Commission (SEC) to approve a U.S. spot bitcoin exchange-traded fund (ETF), an instrument that's predicted to open the floodgates to a wave of institutional investment.

So far, the SEC has rejected every application, but that may be about to change. Analysts are predicting that at least one of the more than a dozen current proposals will be approved as early as Friday.