Tuesday News Digest
The SEC are likely to approve a spot Bitcoin ETF
Bernstein highlights that the SEC has previously granted approval for bitcoin ETFs based on futures, and more recently authorized leveraged futures ETFs.
This decision was based on the understanding that futures pricing is derived from regulated exchanges such as the CME.
Analysts led by Gautam Chhugani indicate that the SEC holds the view that a bitcoin ETF based on spot prices would lack reliability.
The SEC's reasoning stems from the fact that spot exchanges like Coinbase are not subject to its regulatory oversight.
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