In a report published on Thursday, JPMorgan analysts suggest that the approval of a spot bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC) is “unlikely to be a game changer for crypto markets.” The market strategists at the American banking giant emphasize that similar spot bitcoin ETFs already exist internationally, but they have not gained much popularity among investors.
JPMorgan Analysts Doubt Impact of Spot Bitcoin ETF Approval on Crypto Markets
Over the past few weeks, there has been substantial discussion among bitcoin proponents regarding the potential approval of a spot bitcoin (BTC) exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC). In mid-June, Blackrock, the world’s largest asset manager, filed for a spot bitcoin ETF. Following this registration, numerous other institutions submitted applications for comparable exchange-traded products.
According to market observers, the recent launch of EDX, a crypto
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