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Officials with the U.S. Securities and Exchange Commission sent comments to the issuers of a set of bitcoin exchange-traded fund (ETF) filings just hours after the companies filed their amended S-1 documents, which listed fees for their proposed products.

A CFTC advisory panel voted to submit a report to the commission centered on DeFi, marking a substantial step toward focusing on the space.

If spot bitcoin ETFs are approved, they could trade at a premium, according to GTS co-Global Head of ETF Trading and Sales Reggie Browne.

As hype swarms in on the approval of a spot bitcoin ETF, another lingering component remains — Coinbase’s legal battle with the SEC.

The price of bitcoin broke past $47,000 — a threshold the coin hasn’t broken since late 2021.

Bitcoin could rally 10%-15% more in case the SEC approves spot bitcoin ETFs, LMAX strategist Joel Kruger noted.

Bitcoin exchange traded funds may not actually be approved, due to the SEC’s long-held concerns about market manipulation. And, if they are, they could change the nature of Bitcoin itself, to the detriment of Satoshi Nakamoto’s original vision, say critics.

Spot Bitcoin ETFs are expected to attract inflows of $50-100 billion in 2024, according to Standard Chartered Bank.

The wallet receiving the hefty payout is the address that mined the Bitcoin network’s first-ever block reward some 15 years ago, commencing the start of the blockchain.

One train of thought says that SEC approval of spot bitcoin ETF will send the market flying. Here’s how that could play out. In a separate post, we review the bear case, where the market may not react with such optimism.