United

Bitcoin ETF

Bitcoin

<p style="text-align: justify;">The United States Securities and Exchange Commission (SEC) is approaching a critical decision on the approval of a physically backed <a href="https://en.coin-turk.com/deciphering-market-signals-the-impressive-journey-of-bitcoins-consecutive-green-candles/" data-wpel-link="internal">Bitcoin</a> exchange-traded fund (ETF), with the cryptocurrency community on edge.</p> 
<h2 id="the-etf-approval-process-in-bitcoin">The ETF Approval Process in Bitcoin</h2> 
<p style="text-align: justify;">Leading analyst Nate Geraci recently commented on the potential impact of the SEC’s decision, predicting significant market pullback if the ETF is not approved:</p> 
<blockquote> 
 <p style="text-align: justify;">If the spot Bitcoin ETF is not approved in January, it could be one of the biggest contentions in cryptocurrency history.</p> 
</blockquote> 
<p style="text-align: justify;">However, the analyst believes there is still a near 100% chance that the SEC will greenlight such a product. The decision expected next month could be a turning point for the integration of cryptocurrencies into traditional <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">finance</a>. The cryptocurrency market has recently experienced a significant surge, and Bitcoin’s price has reached $45,000 for the first time since 2022. This increase is partly due to optimism that the SEC will approve ETF applications from the likes of Cathie Wood’s ARK <a href="https://en.coin-turk.com/standard-chartered-and-ripple-partner-to-launch-100-million-investment-fund-for-crypto-startups/" data-wpel-link="internal">Investment</a> and 21Shares, among others.</p> 
<p><img loading="lazy" decoding="async" loading="lazy" class="size-full wp-image-290546 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/btc-4.jpg" alt="" width="1110" height="508"></p> 
<h2 id="potential-effects-of-the-etf">Potential Effects of the ETF</h2> 
<p style="text-align: justify;">Approval could be a significant boost for the cryptocurrency sector, still recovering from the collapse of the FTX exchange in 2022. Giants of Wall Street such as BlackRock, Invesco, and Fidelity have joined the fray. Bloomberg Intelligence predicts that the spot Bitcoin ETF market could become a $100 billion behemoth. The potential institutionalization of Bitcoin is an intriguing story that mirrors the adoption of gold ETFs in the early 2000s. The market remains at a crossroads, but there are also concerns.</p> 
<p style="text-align: justify;">According to data from cryptocurrency analytics firm CoinGecko, the leading cryptocurrency Bitcoin is currently trading close to the $40,000 mark. The SEC’s rejection of ETFs could trigger significant market declines. The sector is at a turning point, with the SEC’s decision having the potential to support or stabilize the newly formed market.</p> <span style="font-weight:bold;font-size:16px">Continue Reading:</span> <a href="https://en.coin-turk.com/anticipation-for-secs-decision-on-a-physical-bitcoin-etf/" data-wpel-link="internal">https://en.coin-turk.com/anticipation-for-secs-decision-on-a-physical-bitcoin-etf/</a>

Anticipation for SEC’s Decision on a Physical Bitcoin ETF

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