Fresh hit from CNBC on the still hot subject of Bitcoin spot ETFs:
Spot bitcoin ETF approval may be coming in January, experts say. Here’s what it means for investorshttps://www.cnbc.com/2023/12/26/spot-bitcoin-etf-approval-may-be-coming-in-january-2024.htmlThe price of bitcoin has surged in 2023 as investors await approval for the first U.S. spot bitcoin exchange-traded fund, which would be a milestone for cryptocurrency investors, experts say.
In early December, the digital currency topped $44,000 for the first time since April 2022, and year-to-date gains were above 160%, as of Dec. 21, mostly fueled by optimism for a spot bitcoin ETF.
Meanwhile, discussions between the Securities and Exchange Commission and asset managers hoping to list bitcoin ETFs have advanced to technical details, signaling to some experts that an approval could be imminent.
More than a dozen firms — including BlackRock, WisdomTree, Valkyrie and others — are waiting for the green light from the SEC, which could come in early January.
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“For ETF investors, this would be the best product on the market,” said Bryan Armour, director of passive strategies research for North America at Morningstar. “All the other options right now have flaws to varying degrees.”
Some nice takes there, but mostly nothing that hasn't been discussed previously, although I find this particular stat as a positive sign:
Some 72% of financial advisors said they would be more likely to invest in crypto if spot ETFs were approved in the U.S., according to a 2022 Nasdaq survey of 500 advisors.
