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<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/news/crypto-news-spot-bitcoin-etf-approval-could-ignite-the-next-bull-market/">Crypto News: Spot Bitcoin ETF Approval Could Ignite the Next Bull Market</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The next pivotal moment in the cryptocurrency’s history will be the approval of a Spot Bitcoin ETF. But why is this such a big deal? Basically, an ETF is a type of investment that comes with special tax breaks and you can also borrow money against it. This is really attractive for big investors like pension funds, and if they jump in, the Bitcoin market could get a huge money boost. However, the SEC has postponed the decision on 6 spot BTC ETF applications, including one from BlackRock to 17 Oct!</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">Most people don't realize the significance of a Spot <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> ETF<br><br>Here is why:<br><br>A Bitcoin Spot ETF could drive Bitcoin's price to $100k and beyond, and here's why:<br><br>It's essential to understand that an ETF provides numerous tax benefits and the option to borrow against it. As a… <a href="https://t.co/5Cm5xJ17XR" rel="noopener noreferrer nofollow">pic.twitter.com/5Cm5xJ17XR</a></p>— Crypto Rover (@rovercrc) <a href="https://twitter.com/rovercrc/status/1697555370967806170?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 1, 2023</a> 
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<p><strong>But why is the SEC delaying Decisions?</strong></p> 
<p>Normally, the Securities and Exchange Commission (SEC) takes about 45 days to say “yes” or “no” to an ETF proposal. But they’re <a href="https://coinpedia.org/news/sec-postpones-bitcoin-etf-rulings-delays-decision-for-wisdom-tree/" rel="noopener noreferrer nofollow">taking more time to decide</a> about the Bitcoin ETF. This is mysterious as it comes right after a court told the SEC it was <a href="https://twitter.com/jchervinsky/status/1696544309699363201" rel="noopener noreferrer nofollow">wrong to reject another Bitcoin ETF by Grayscale Investments</a>. The court basically told the SEC to go back and rethink that decision. So, could the SEC be dragging its feet because it’s not sure what to do next?</p> 
<p><em>Also Read – </em><a href="https://coinpedia.org/news/sec-postpones-bitcoin-etf-rulings-delays-decision-for-wisdom-tree/" rel="noopener noreferrer nofollow"><em>SEC Postpones Bitcoin ETF Rulings, Delays Decision for Wisdom Tree</em></a></p> 
<h2 id="blackrock-the-catalyst-that-could-spark-the-explosion" data-name="blackrock-the-catalyst-that-could-spark-the-explosion" class="wp-block-heading"><strong>BlackRock: The Catalyst That Could Spark the Explosion</strong></h2> 
<p>Meanwhile, the world’s largest asset manager, BlackRock, is making <a href="https://twitter.com/rovercrc/status/1694778599344095284" rel="noopener noreferrer nofollow">strategic moves</a> that suggest they’re in it for the long haul. Their goal? To bring about a Spot Bitcoin ETF that could ignite a new Bull Market as early as 2024. And get this, if BlackRock gets the green light, Bitcoin’s price could soar past the $200k mark by 2025! <a href="https://twitter.com/rovercrc/status/1696436703127322684" rel="noopener noreferrer nofollow">Here’s why</a>:</p> 
<ul> 
 <li>A nearly flawless track record: BlackRock boasts a 99.8% approval rate for ETFs.</li> 
 <li>Government’s go-to problem solver: During the 2008 financial crisis, guess who the US government turned to? Yep, BlackRock.</li> 
 <li>Changing attitudes: BlackRock’s CEO has warmed up to Bitcoin, referring to it as “digital gold.”</li> 
 <li>Private successes: They’ve already launched a private Bitcoin ETF for institutional players.</li> 
 <li>Global Precedents: Europe and Canada already have Spot Bitcoin ETFs up and running.</li> 
 <li>Peer Pressure: Other major asset managers like Vanguard and Fidelity are also on the Bitcoin ETF bandwagon.</li> 
</ul> 
<p>This makes it even more likely that other Bitcoin ETFs will get the green light. <a href="https://twitter.com/attorneyjeremy1/status/1697597449370476655" rel="noopener noreferrer nofollow">It’s not a matter of ‘if,’ but ‘when.’</a></p> 
<h2 id="october-17-mark-your-calendars" data-name="october-17-mark-your-calendars" class="wp-block-heading"><strong>October 17, Mark Your Calendars!</strong></h2> 
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   <p lang="en" dir="ltr">Think logically:<br><br>If the Spot <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a>&nbsp; ETFs are accepted, it will likely occur on a random date when nobody is aware.<br><br>It probably won't be a day before the second, third, or final deadline.<br><br>Keeping that in mind, it could happen at any moment. Stay on high alert.</p>— Crypto Rover (@rovercrc) <a href="https://twitter.com/rovercrc/status/1697634648820478264?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 1, 2023</a> 
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<p>The SEC is set to make its next ruling on BlackRock’s Spot Bitcoin ETF on <a href="https://twitter.com/rovercrc/status/1697582827318173954" rel="noopener noreferrer nofollow">October 17</a>. Considering that Grayscale’s Chief Legal Officer and even Jay Clayton, the former SEC Chair, have hinted that <a href="https://twitter.com/saylor/status/1697613408453951502" rel="noopener noreferrer nofollow">approval is “inevitable,”</a> this date could very well be the start of Bitcoin’s next meteoric rise.</p> 
<p><em>Also Read – </em><a href="https://coinpedia.org/news/pro-xrp-lawyer-criticizes-secs-delay-of-blackrock-bitcoin-etf-alleges-favoritism-towards-incumbent-players/" rel="noopener noreferrer nofollow"><em>Pro-XRP Lawyer Criticizes SEC’s Delay of BlackRock Bitcoin ETF, Alleges Favoritism towards Incumbent Players</em></a></p>

Crypto News: Spot Bitcoin ETF Approval Could Ignite the Next Bull Market

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