Nate Geraci, President of advisory firm The ETF Store, believes that the SEC could approve a spot Bitcoin ETF this week. The anticipation of regulatory approval has caused Bitcoin to rise 40% in the past month. There is speculation that the SEC will make an announcement regarding applications from major asset managers, including BlackRock and Fidelity. This speculation has grown after the conclusion of a rebuttal period. Bloomberg analysts suggest that approvals could start coming in by early January, with a window for potential approval open until November 17. Geraci suggests that the SEC might take advantage of this window to issue approval orders. If approved, these orders could lead to a simultaneous launch of spot Bitcoin ETFs. Geraci emphasizes that the approvals would likely be for rule changes that facilitate the listing and trading of spot Bitcoin ETFs on exchanges. According to Bloomberg analysts, there is a 90% chance of Bitcoin ETF approval by January. The approval of a spot Bitcoin ETF would be a significant milestone for the cryptocurrency market. Bitcoin's current price reflects a 105% surge over the past year.
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