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<p>The post <a rel="nofollow" href="https://coinpedia.org/bitcoin/bitcoin-etf-approval-looking-likely-predicts-marathon-digital-ceo/">SEC Closer to Approving Bitcoin ETF? Marathon CEO Says Chances Have Crossed 50%</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Fred Thiel, the CEO of Marathon Digital, is showing increasing positivity about the potential approval of a Bitcoin Exchange Traded Fund (ETF) by the United States Securities and Exchange Commission (SEC).</p> 
<p>Thiel’s confidence stems from the recent influx of institutional investors into the cryptocurrency domain. Over the last couple of months, he believes the chances of the SEC granting approval for a Bitcoin ETF have crossed the 50% mark. He further highlighted that the approval of an Ethereum Futures ETF by the regulatory agency could enhance the likelihood of this decision.</p> 
<h2 id="bitcoin-spot-etf-approval-gains-momentum" data-name="bitcoin-spot-etf-approval-gains-momentum" class="wp-block-heading"><strong>Bitcoin Spot ETF Approval Gains Momentum</strong></h2> 
<p>In an interview, Fred Thiel expressed growing optimism regarding the SEC’s stance on <a href="https://coinpedia.org/news/grayscales-bitcoin-etf-decision-postponed-again-by-us-appeals-court-heres-why/">Bitcoin Spot ETF</a> approval. Thiel has indicated that the odds of the regulatory body giving the green light to a Bitcoin Spot ETF are now better than a coin toss.&nbsp;</p> 
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 <p><em>“I don’t know about giving out odds on something like this because the fact that Larry Fink and BlackRock are even trying to do this would say that they have a pretty high degree of certainty that they’ll get it through,”</em></p> 
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   <p lang="en" dir="ltr">"<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> Exciting news from Decrypt! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> Fred Thiel, CEO of Marathon Digital Holdings, predicts SEC approval for Ethereum futures ETFs, possibly paving the way for Bitcoin spot ETF <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f310.png" alt="🌐" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;"> Thiel estimates over 50% chance of Bitcoin ETF approval! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f64c.png" alt="🙌" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/BitcoinWorld?src=hash&amp;ref_src=twsrc%5Etfw">#BitcoinWorld</a> <a href="https://twitter.com/hashtag/CryptoETFs?src=hash&amp;ref_src=twsrc%5Etfw">#CryptoETFs</a>…</p>— BitcoinWorld (@ItsBitcoinWorld) <a href="https://twitter.com/ItsBitcoinWorld/status/1694591455002780006?ref_src=twsrc%5Etfw">August 24, 2023</a>
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<p><strong>Several Pending Applications</strong></p> 
<p>Currently, there are around six applications <a href="https://coinpedia.org/news/caitlin-long-raises-concerns-over-blackrocks-influence-on-bitcoin-etf-approvals/">awaiting approval</a> for the launch of a spot Bitcoin ETF. Unlike existing futures contract-based ETFs, a spot Bitcoin ETF would directly track the price of Bitcoin (BTC). This would allow investors to gain exposure to Bitcoin without the need to purchase and store it themselves.</p> 
<p>Several prominent firms are vying to offer a Bitcoin e­xchange-traded fund (ETF), including <a href="https://coinpedia.org/news/caitlin-long-raises-concerns-over-blackrocks-influence-on-bitcoin-etf-approvals/">BlackRock</a>, the world’s largest asset manager with over $9 trillion unde­r management <a href="https://www.blackrock.com/corporate/newsroom/press-releases/article/corporate-one/press-releases/blackrock-reports-second-quarter-2023">as of Q2 2023</a>. Other notable­ contenders include Wisdom Tre­e, VanEck, Valkyrie, and Fidelity.</p> 
<h2 id="ethereum-etf-and-bitcoins-fate" data-name="ethereum-etf-and-bitcoins-fate" class="wp-block-heading">Ethereum ETF and Bitcoin’s Fate</h2> 
<p>Thiel’s perspective gains additional weight from his observation that the potential approval of an Ethereum Futures ETF could play a pivotal role in tilting the scales in favor of Bitcoin’s ETF approval. This interconnectedness reflects the SEC’s acknowledgment of the expanding reach of digital assets, potentially setting a precedent for favorable regulatory decisions.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr">"<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> Exciting news from Decrypt! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> Fred Thiel, CEO of Marathon Digital Holdings, predicts SEC approval for Ethereum futures ETFs, possibly paving the way for Bitcoin spot ETF <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f310.png" alt="🌐" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;"> Thiel estimates over 50% chance of Bitcoin ETF approval! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f64c.png" alt="🙌" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/BitcoinWorld?src=hash&amp;ref_src=twsrc%5Etfw">#BitcoinWorld</a> <a href="https://twitter.com/hashtag/CryptoETFs?src=hash&amp;ref_src=twsrc%5Etfw">#CryptoETFs</a>…</p>— BitcoinWorld (@ItsBitcoinWorld) <a href="https://twitter.com/ItsBitcoinWorld/status/1694591455002780006?ref_src=twsrc%5Etfw">August 24, 2023</a>
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<p>Moreover, Bitcoin has an advantage over Ethereum in terms of regulatory scrutiny, as it has not been classified as a security by the SEC. This advantageous regulatory position could contribute to a smoother approval process for a Bitcoin ETF.</p> 
<p>Read More: <a href="https://coinpedia.org/news/secs-call-on-ether-etfs-a-pivotal-moment-with-big-win-potential/">Ethereum Futures ETFs: What Investors Need to Know</a></p> 
<p>Thiel also explained that his views rest on the fact the SEC may approve a spot Ethereum ETF with a report predicting an approval around October within several applications filed.&nbsp;</p> 
<h2 id="understanding-the-regulatory-impact" data-name="understanding-the-regulatory-impact" class="wp-block-heading">Understanding the Regulatory Impact</h2> 
<p>Thiel also e­mphasized the impact of regulations on marke­t outcomes and highlighted their inte­rconnection. He pointed out that positive advancements, such as resolving the ongoing lawsuit involving <a href="https://coinpedia.org/news/coinbase-vs-sec-hearing-today-coinbase-appeals-for-dismissal-of-sec-lawsuit/">Coinbase</a>, may be necessary to mitigate any regulatory pressure­s. The resolution of the Ripple­ lawsuit could set a precede­nt for the decision-making process of the Securities and Exchange Commission (SEC).</p> 
<p>Discussions surrounding the approval of spot BTC ETFs are­ ongoing, and the market is anxiously awaiting the ve­rdict from the SEC.&nbsp;</p>

SEC Closer to Approving Bitcoin ETF? Marathon CEO Says Chances Have Crossed 50%

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