Cantor research analysts Josh Siegler and Will Carlson stated that SEC officials are more likely to approve the newly submitted proposal, unlike the previous rejected applications. They cited the application of heavyweight Wall Street company BlackRock and the success of Grayscale Investment LLC in overcoming the opposition of the US Securities and Exchange Commission in converting trusts in court.
Josh Siegler and Will Carlson stated in a report on Friday that the approval of a Bitcoin spot ETF is the most important short-term catalyst for the Bitcoin price. The approval of a spot Bitcoin ETF in the US will be a "moment of the cornerstone of Bitcoin's long-term adoption and legalization." They added that the investment tool will simplify the process of finding Bitcoin custodians, self-storage, or investing in futures products.
