Spot Bitcoin ETF Approval In January Looks Promising, Says Bernstein Research

Enthusiasm for a spot Bitcoin BTC/USD exchange-traded fund (ETF) continues to surge, and analysts now believe its probable approval in early January "looks highly likely," according to Bernstein Research.

The SEC's recent active engagement, marked by its feedback on ETF applications without challenging the Grayscale case outcome, suggests a favorable verdict by Jan. 10 is on the horizon, the Bernstein Research note elaborated, as reported by TheStreetCrypto.

Amid this backdrop, discussions on digital asset trends and their future implications are set to be a highlight at Benzinga's Future of Digital Assets conference on Nov. 14.

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Spot Bitcoin ETFs grant investors a direct avenue to Bitcoin via an exchange-listed instrument.

While a futures-based bitcoin ETF was introduced two years prior, the market still lacks an ETF that provides this direct link, a feature eagerly awaited by crypto aficionados.

SEC chairman Gary Gensler recently highlighted that nearly ten applications for a Bitcoin ETF are in the pipeline. Reuters reports that Gensler said, "They'll come potentially to the five-member commission. I'm not going to prejudge them but I don't have anything on timing."

Each application, he noted, has its unique submission date.

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