Golden Finance reported that Peter Schiff, chief economist and global strategist of Euro Pacific Capital, said on social media that the approval of a spot Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC) will not be a trivial matter. There's really no need for a Bitcoin ETF since you can buy and store Bitcoin yourself for free. What’s the point of owning Bitcoin in an ETF? The Bitcoin ETF is most likely not a "buy on the rumor, sell on the news" event, but a "buy on the rumor, sell on the news" event. Those waiting for actual news to sell their Bitcoin may find that there are not many speculators left to buy Bitcoin.