The news about spot Bitcoin ETF approval has been making rounds in the news recently. And it has brought so much hope that next year will be a profitable one for Bitcoiners.
Maybe we should understand this that it's more of halving next year than bitcoin spot ETF approval, wether the SEC approves application or not, bitcoin market remains dependent of the demand and supply rate, the recent fake news could be said that it has a little impact on the increase felt but yet it would have been the same news that would have make the market go dip when it was realized to be fake news.
I have a feeling that the SEC will approve it next year because approving the ETF will also favor the SEC in some ways.
People are just giving theirselves fake hope with the expectation that by next year some might been approved, but SEC themselves are not making any official release on this fact, so i will count this as part of the gist that accumulate to FUD.
It will promote centralization of the Bitcoin system which will make the sector very easy to regulate.
These companies applying for bitcoin spot ETF are not applying for bitcoin itself to be adopted by them, they are only seeking approval for the use of bitcoin market price in rating their stocks and market bonds with their clients, if SEC should regulate anything here, then not bitcoin but the organizations after the use of bitcoin spot ETF.
