BTC struggles as Grayscale pushes for an ETF approval. Assessing…
Why Grayscale might get the green light soon
Grayscale has been particularly keen on the matter, as revealed in its latest announcement. The company recently disclosed that its legal team has submitted a letter over the matter. The letter notes that the SEC has already surpassed three times the length that it is legally permitted to take for a filing.
Bitcoin holders are growing
Bitcoin has been facing directional headwinds in the last few weeks. However, the number of addresses holding BTC has been steadily growing and it reportedly just reached a new all-time high. Roughly 4.47 million addresses now hold at least 0.1 Bitcoin.
This suggested that there was still some demand for Bitcoin at its current level, especially after its August discount. However, the market is still under a cloud of uncertainty especially due to the possibility of interest rate hype during the next FED announcement.
