Bitcoin ETF

Bitcoin

Spot

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/anticipation-for-the-first-spot-bitcoin-etf-approval-in-the-usa/" data-wpel-link="internal">Anticipation for the First Spot Bitcoin ETF Approval in the USA</a><br></p>
<p style="text-align: justify"><strong>The United States Securities and Exchange Commission</strong> (SEC), particularly due to the numerous lawsuits it has filed against many cryptocurrency companies and projects, has been a constant target of criticism in the crypto world. Nevertheless, the crypto community is now hopeful that the SEC will finally greenlight the first US spot <a href="https://en.coin-turk.com/warning-of-a-major-collapse-for-bitcoin/" data-wpel-link="internal">Bitcoin</a> ETF after years of rejecting spot Bitcoin ETF applications.</p> 
<h2 style="text-align: justify" id="strong-when-will-the-first-us-spot-bitcoin-etf-be-approved-strong"><strong>When Will the First US Spot Bitcoin ETF Be Approved?</strong></h2> 
<p style="text-align: justify">The start of the new year brings hope for cryptocurrency investors and all the companies that have applied to the SEC to launch the first US spot Bitcoin ETF. This hopeful anticipation was initially met with a surge in Bitcoin’s price to $46,000 on the second day of the year, but a report from crypto firm Matrixport suggested that the final approval might not come this month but rather in the second quarter of the year, reversing the trend.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-298923" src="https://coin-turk.com/wp-content/uploads/2024/01/SEC-Spot-Bitcoin-ETF-ABD.jpeg" alt="" width="1280" height="720"></p> 
<p style="text-align: justify">While many experts have disputed the report, Bitcoin’s price dropped by about five thousand dollars within hours. However, leading ETF analysts like Eric Balchunas from Bloomberg suggested that the expected approval could come next week, which helped recover most of the losses.</p> 
<p style="text-align: justify">Popular <a href="https://newslinker.co/category/ai/" data-wpel-link="exclude">artificial intelligence</a> source Perplexity similarly responded to the question of when the SEC would approve a spot ETF that directly tracks the performance of the largest cryptocurrency, saying, “The SEC is expected to approve a spot Bitcoin ETF by January 10th. Although the SEC has not yet announced its final decision to the public, ongoing discussions and meetings between regulators and key players indicate a positive outcome.”</p> 
<h2 style="text-align: justify" id="strong-everything-will-change-with-the-spot-bitcoin-etf-strong"><strong>Everything Will Change with the Spot Bitcoin ETF</strong></h2> 
<p style="text-align: justify">The cryptocurrency market is divided over the spot Bitcoin ETF. While some, including Jimmy Song, believe such an investment product is not significant, others like Edward Snowden claim that the ETF will domesticate the decentralization that is the core idea behind Bitcoin’s introduction. On the other hand, there are those who argue that ETF approval is essential for Bitcoin to be recognized as a legitimate financial instrument among institutions.</p> 
<p style="text-align: justify">Despite differing opinions on the impact of the spot ETF on the largest cryptocurrency, experts believe that the ETF will accelerate and increase capital inflows to Bitcoin and the broader crypto market in the coming years. Perplexity also shared its view on the matter, stating, “The SEC’s approval of the spot Bitcoin ETF is expected to pave the way for investors to access the world’s largest cryptocurrency and to facilitate significant institutional investors entering the market.”</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/anticipation-for-the-first-spot-bitcoin-etf-approval-in-the-usa/" data-wpel-link="internal">Anticipation for the First Spot Bitcoin ETF Approval in the USA</a></h5>

Anticipation for the First Spot Bitcoin ETF Approval in the USA

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