Although this doesn't guarantee approval, the step could pave the way for a landmark spot Bitcoin ETF
This is of particular interest given the SEC has yet to approve any spot Bitcoin ETFs, despite the increasing number of applications. While the SEC has acknowledged these recent applications, it's still far from guaranteed that an approval will be granted.are seen as a crucial catalyst for the growth and maturity of the Bitcoin market since they would allow retail and institutional investors to gain exposure to the cryptocurrency without the need to directly own or manage it.
Moreover, the approval of a Bitcoin ETF could be seen as a regulatory stamp of approval, potentially encouraging more widespread acceptance and use of the cryptocurrency. The SEC's acknowledgment of these filings does not mean approval is imminent, and indeed, some skepticism remains.
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