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 <h2 id="bitcoin-etf-approval-gets-necessary-boost">Bitcoin ETF Approval Gets Necessary Boost</h2> 
 <p>Bloomberg Intelligence ETF analyst James Seyffart on August 2 said chances of a spot <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> approval by the US SEC grows to 65% based on recent events and new information.</p>  
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 <p>He cites several reasons such as Gary Gensler downplaying his role at the SEC and its approval of Coinbase’s Bitcoin exchange, Grayscale minimizing other filings and the SEC’s loss in the Grayscale case in front of the same judges. In addition, pressure from BlackRock to approve <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> and Democrats possibly making ETF denying difficult for Gensler.</p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">Here's the race as I'm watching it. We are completely guessing on the timing of the Grayscale case dates. But we think the path of least resistance is simultaneous approval for all 8 filers + Grayscale in the aftermath of the courts vacating the SEC's denial. pic.twitter.com/Zy97iEj4Hg</p> 
  <p>— James Seyffart (@JSeyff) August 2, 2023</p>  
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 </blockquote> 
 <p></p> 
 <p>He claims that Grayscale’s victory over the US SEC in the lawsuit is a key trigger of spot <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> approval. It could make SEC approve multiple <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>s in the 4th quarter.</p> 
 <p>Meanwhile, Grayscale sent out a comment letter to the US SEC in relation to the spot <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> filings with the surveillance sharing agreements, with enough reasons to approve <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>.</p> 
 <p><strong>Read More: After Bitcoin, Financial Giants Rush to Apply for Ethereum Futures ETFs&nbsp;</strong></p> 
 <h2 id="companies-file-ethereum-etfs">Companies File Ethereum ETFs</h2>  
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 <p>While the SEC review Bitcoin ETF applications, Volatility Shares, Bitwise, VanEck, Roundhill, ProShares, and Grayscale have filed applications with the SEC for Ether ETFs.</p> 
 <p>Pressure is mounting on the SEC and the US Congress to approve <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>, and probably Ethereum ETFs, this year. Grayscale is now ahead of Ark Invest and 21 Shares’ <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>.</p> 
 <p>Bitcoin price jumped 2% in the past 24 hours, with the price currently trading at $29,454. The 24-hour low and high are $28,657 and $28,657, respectively.</p> 
 <p><strong>Also Read:</strong></p> 
 <ul> 
  <li>MicroStrategy Plans to Buy More Bitcoins With $750 Million Stock Sale</li> 
  <li>Ripple CEO Garlinghouse And Deaton Condemn US SEC For Using XRP Report In Suit</li> 
  <li>Binance Allowed Users Trade $90 Billion In Crypto In Banned China Market</li> 
 </ul> 
</div>

Odds Of Spot Bitcoin ETF Approval By US SEC Rises To 65%: Bloomberg

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