According to Bloomberg analysts, the likelihood of a spot bitcoin exchange-traded fund (ETF) being approved has risen to around 70%. This is supported by mutual fund giant Fidelity Investments reportedly preparing to enter the market and the recent launch of a new crypto fund. Earlier this year, Bloomberg analysts estimated the odds of a spot bitcoin ETF approval to be around 40%. However, the chances have increased since BlackRock, the world’s largest asset manager, sought permission for its own fund, followed by other issuers.
Spot Bitcoin ETF Appears More Likely
ETF Newz Says:
The SEC’s recent approval of the 2x Bitcoin Strategy ETF (BITX), a leveraged bitcoin futures ETF, and the opening of EDX Markets, a new crypto exchange backed by Citadel Securities, Fidelity, and Charles Schwab, indicate a potential shift in regulatory attitudes toward crypto ETFs.