It has been just revealed the fact that Ark Invest’s Bitcoin spot ETF will be approved soon, sending the price of BTC to the moon. Check out the latest reports about this.

New BTC predicitons are beyond optimistic

Here is a relevant tweet that has been shared recently:

Someone commented: “this is exciting news! Can’t wait to see how it impacts the market and opens up more opportunities for Bitcoin investors.”

The most important BTC price catalyst

Cantor Fitzgerald, a financial services firm providing prime brokerage and investment banking services, has released a report indicating that the long-awaited Bitcoin exchange-traded fund (ETF) could become a reality soon.

According to a Bloomberg News report, the firm’s analysts are confident that the Security Exchange Commission (SEC) will approve applications from asset managers to launch a spot ETF for Bitcoin.

The SEC has been hesitant to approve a Bitcoin ETF due to concerns about market manipulation on offshore spot platforms. However, Cantor Fitzgerald’s analysts suggest that the approval of new applicants may be granted because of the market surveillance procedures they have proposed.

The report by Cantor Fitzgerald further reveals that the SEC has received several applications from firms seeking to launch Bitcoin ETFs.

The report suggests that the approval of a Bitcoin ETF would be a significant milestone for the cryptocurrency industry, as it would open up the market to a wider range of investors.

While there are already several Bitcoin futures contracts trading on regulated exchanges, a Bitcoin ETF would be the first investment product that tracks the actual price of Bitcoin.

“A comprehensive surveillance-sharing agreement with a regulated market of significant size” would mollify regulators, the firm’s Josh Siegler and Will Carlson noted.

The analysts believe a spot ETF approval would be a significant short-term catalyst for bitcoin’s price, adding approval would be “a bedrock moment for Bitcoin’s long-term adoption and legitimization.”

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