SEC Chair Gary Gensler has toned down on the topic of crypto regulations amid increased political pressure from Congress.
The analysts argue that the SEC’s seeming approval of Coinbase as a crypto trading platform increases the odds of a Bitcoin ETF soon.
The recent spot Bitcoin ETF frenzy has undeniably awakened the hope for approval in the United States amid increased demand from institutional investors. According to a recent study conducted by on-chain intelligence platform Santiment, about 15.87k Bitcoin addresses that hold more than 100 BTCs have accumulated approximately 11.5 million coins, which accounts for over 59 percent of the circulating supply. Interestingly, the said Bitcoin whales added about 27.75 coins in the past 12 weeks despite the recent market uncertainty. 
The increased demand for digital assets by institutional investors is ostensibly even larger as more investment fund managers seek Bitcoin ETF. Just to name a few, BlackRock, Fidelity, WisdomTree, and Valkyr

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