However, the SEC maintains that it is considering spot ETFs under a different set of laws than futures ETFs.
According to Michael Saylor, they may be the major catalyst required for trillions of dollars to enter the Bitcoin market and drive Bitcoin to overthrow gold.
However, the market is getting increasingly wary of the SEC’s reasons and arguments and thinks that investors should be given the choice to choose what is best for them in a free market.
At press time, Bitcoin was trading at around $64,574, up 2.15% in the last 24 hours.