đJPMorgan warns that the SEC could face legal repercussions if it declines spot Bitcoin ETF applications, potentially leading to lawsuits against the already embattled agency.đ„
Bitcoin has seen a near 20% uptick over the last week, driven more by institutional demand than retail investments, marking a departure from previous trends. JPMorgan analysts also point to a spike in futures positions based on CME Bitcoin futures as an indicator of increased institutional interest.đ
With the SEC already facing a court mandate to reconsider Grayscale's application, the agency finds itself at another crossroads. JPMorgan anticipates several spot Bitcoin ETF approvals could arrive within the next few months as asset managers make progress in technical preparations and amend filings to address issues.đ
