SEC body hints it is ready to approve Bitcoin spot ETF

Many people are speculating that the US Securities regulatory body hinted that it is ready to approve Bitcoin spot ETF applications, on behalf of SEC’s latest warning to investors. 

As all of us know very well the United States Securities and Exchange Commission (SEC) and stock exchanges are engaged in the Bitcoin spot ETF applications. Insiders already confirmed that the SEC body is in the final phase to approve these applications.

On 6 Jan 2024, The US SEC published an investor warning message to American citizens and asserted that they should not fall for any blind investment because it may not be the right decision to invest in something, in which already many other people invested.

In a detailed explanation, the SEC body mentioned cryptocurrencies, NFTs, & other stock assets as a risky investment asset, if a person invests blindly under peer pressure.

However the SEC body failed to mention the Bitcoin financial product but many people predicted that it is a hint by the SEC body, that they are almost ready to approve all Bitcoin spot ETF applications.

These types of speculations around the SEC & approval of Bitcoin spot ETF are not only speculation but a big fact. 

Earlier in Oct 2021, just before the approval of Bitcoin futures ETF products, the SEC body warned people directly and suggested not to invest in any such product blindly without research. 

By considering all the facts and insider reports, here we can say now there is a 99.99% chance that the SEC body will green signal these bitcoin spot ETFs but it will be interesting to see how the Bitcoin trade price will react following the official announcement of the approval of these products.

The current trade price of Bitcoin is $44k & this trade price has been stable enough over the last few days.

Some people predicted that the Bitcoin trade price may crash badly after the approval of these Bitcoin-focused financial products because big players will sell huge amounts of Bitcoins by considering the ETF approval news as a Bitcoin sell event news. 

Read also: Many people didn’t know that they could own a fraction of a Bitcoin but ETF will solve this problem