The approval of a Bitcoin ETF could act as a powerful catalyst for the start of a new bull cycle in the cryptocurrency market. consider Bernstein analysts write RBC Crypto.
In their opinion, a positive decision from the US Securities and Exchange Commission (SEC) will give the green light to institutional investors to enter the digital asset market.
Bernstein analysts expect approval of a Bitcoin ETF by January 2024 or “even earlier.” In their opinion, the satisfaction of Grayscale’s claim against the SEC and statements by the head of Blackrock about high customer demand for cryptocurrency only confirm the thesis that the digital asset market may enter a bullish phase in the very near future.
Specialists from Bloomberg Intelligence also believe that the SEC will approve the ETF in early January 2024 with a 90% probability. Last week, Google Trends data showed that the number of searches for the keyword spot bitcoin etf in Google’s international search reached peak values, indicating maximum interest in this topic from ordinary users.
Source: Cryptocurrency
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