Bitcoin ETFs Gain Momentum: SEC Approval Expected, BlackRock and Coinbase Lead the Way

Bitcoin surged 10% to reach 1-1/2 year highs, driving up the prices of crypto-related stocks, as speculation about the possibility of a bitcoin exchange-traded fund (ETF) grew. Reports suggest that the U.S. Securities and Exchange Commission (SEC) won't appeal a ruling that it was wrong to reject an application from Grayscale Investments, fueling anticipation of a spot bitcoin ETF. Several major financial institutions, including BlackRock, VanEck, and Fidelity, have pending bitcoin ETF applications. The market is optimistic that a physical BTC ETF will be approved in the next three months, if not sooner.