Opinion is split on the potential for the US SEC to approve a spot BTC ETF

<p>A couple of divergent opinions doing the rounds on Monday:</p><p>Bank of America:</p><ul><li>not optimistic about any imminent approval</li><li>made the point that the SEC is skeptical about crypto trading platforms</li></ul><p>And:</p><ul><li>
“For a historical perspective, silver futures began trading in 1933, but the first spot silver ETP wasn’t approved until 2006"</li></ul><p>On the other hand, TD:</p><ul><li>approval appears “inevitable”</li><li>including Coinbase as a listed custodian in the fund applications is a positive for the ETF issuers</li><li>
“We believe approval may be getting closer as industry addresses the SEC’s concerns and the SEC looks to cement its authority over crypto. While a decision may be more than weeks or months away, we see this the start of the endgame in the push for a spot Bitcoin ETF”</li></ul><p>Earlier post today:</p><ul><li><a href="https://www.forexlive.com/Cryptocurrency/standard-chartered-have-pumped-their-2024-bitcoin-forecast-to-as-high-as-us120000-20230710/" target="_blank" rel="follow" data-article-link="true">Standard Chartered have pumped their 2024 bitcoin forecast to as high as US$120,000</a></li></ul><p>Bitcoin update:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.