Bitcoin nears $30K amid increased BTC ETF optimism

October 20, 2023 01:31 AM PDT | By Invezz

Bitcoin nears $30K amid increased BTC ETF optimism — Image source: Invezz

Renewed ETF interest

Meanwhile, exchange-traded funds providers have amended their applications lately as proponents urge the United States Securities & Exchange Commission to approve a Bitcoin ETF. Also, applicants continue to review their filing to meet SEC’s guidelines.

JUST IN: BlackRock updates ETF prospectus after talks with 🇺🇸 SEC – just as Ark and Fidelity have 👀 pic.twitter.com/v188wUmdAu
— Bitcoin News (@BitcoinNewsCom) October 19, 2023

Financial giants BlackRock, Ark Invest, and Fidelity updated their ETF prospectus after talks with the regulator. Furthermore, Chair Gary Gensler confirmed that the SEC is working on Bitcoin exchange-traded funds proposals.

Bloomberg analyst stated that there’s 90% probability the SEC will authorize a spot BTC ETF early in 2024 due to positive talks with the securities regulator. Moreover, crypto experts believe such a move would see Bitcoin climbing to new all-time highs, translating to explosive upsides for the entire cryptocurrency industry.

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