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As the crypto market trends upwards, speculation about potential approvals for Bitcoin spot exchange-traded funds (ETFs) in 2023 has intensified. The Securities and Exchange Commission (SEC) appears to have relaxed its stance, with major applicants such as BlackRock (NYSE:BLK), Fidelity, Ark Invest, and VanEck making modifications to their applications. Bloomberg's ETF specialists view these changes as a positive sign towards Bitcoin ETF approval.

On Tuesday, financial lawyer Scott Johnsson speculated on X (formerly Twitter) about a possible SEC approval for a Bitcoin spot ETF by November 2, 2023. He drew comparisons with the BITO approval following a similar closed-door SEC meeting and Grayscale's successful spot Bitcoin ETF bid after a U.S. Court of Appeals decision.

Despite the anticipation, Johnsson emphasized the uncertainty of any announcement on that date. His post has fueled discussions about potential Bitcoin ETF approvals in the coming year. These developments suggest that the landscape for cryptocurrency investments could be set to change significantly in the near future.

https://www.investing.com/news/cryptocurrency-news/bitcoin-spot-etf-approval-speculation-intensifies-amid-crypto-market-uptrend-93CH-3217347