Financial services giant Cantor Fitzgeralt stated that the spot Bitcoin (BTC) exchange-traded fund (ETF) approval represents a short-term catalyst for Bitcoin.
by Bloomberg 27 October According to a news report published today, important statements came from Cantor Fitzgeralt about spot Bitcoin ETFs. Cantor’s research analysts Josh Siegler And Will Carlson In a note published on Friday, October 27, they stated that the future from the USA spot Bitcoin ETF approval For Bitcoin price a short term catalyst He stated that it will function as follows:
Bitcoin Spot ETF approval is the most important short-term catalyst for Bitcoin’s price.
A possible spot Bitcoin ETF approval Long-term adoption of Bitcoin And legitimizing Analysts emphasize that it will be important for the future of approval and expectations are increasing he stated.
On the other hand, analysts say that unlike spot Bitcoin ETF applications that were rejected by the SEC in recent years BlackRock And Fidelity Applications submitted recently by financial giants such as are more likely to be accepted. high He emphasized that it was.
Additionally, specifically for the Grayscale GBTC fund US Securities and Exchange Commission (SEC) Partial victory in the ongoing lawsuit against ETF approval process positive It was suggested that it would reflect:
Ultimately, the court found that the SEC failed to provide a clear explanation as to why it approved forward Bitcoin ETF applications but not spot Bitcoin ETF applications. The formula applied against Grayscale being deemed inadequate and the events that followed gradually pave the way for ETF approval.