According to the statement made by JPMorgan, the idea that the SEC will approve applications for the spot Bitcoin ETF is getting stronger.
According to the research report published yesterday by JPMorgan analysts, the expectation that the US Securities and Exchange Commission (SEC) will approve the establishment of spot Bitcoin exchange-traded funds (ETFs) is growing.
The application filed by BlackRock for the iShares Bitcoin Trust was filed by Depository Trust & Clearing Corp. Sharing on the site, Bitcoin price up to over $35,000 took it out.
According to JPMorgan research, the fact that Bitcoin is performing better than other cryptocurrencies proves that investors are optimistic about the ETF.
JPMorgan analysts, examining futures contracts in the cryptocurrency market, noted that the recent activity in the market “institutional” He states that it may also be due to investors:
In the JPMorgan report, “largely used by institutional investors” CME Bitcoin futures reached its highest level of the year emphasized. The numbers seen on CME are also Prior to FTX’s collapse, August 2022 at similar levels.
Analysts also think that the activity experienced in recent days is different from those in the past. Past activities “from individual investors” While, in recent days Large amounts of BTC entering large wallets It is stated that .