Following a new wave of optimism regarding filings to the United States Securities and Exchange Commission (SEC) for a Bitcoin (BTC) spot exchange-traded fund (ETF) by multiple asset managers, many that were so far still outside the cryptocurrency loop seem to be taking interest.
Indeed, the number of daily views on Bitcoin’s Wikipedia page reached 7,830 on September 8, which is the highest since the year’s turn and could have something to do with the expectations of a Bitcoin ETF approval, according to the data shared by crypto analytics platform The Block Pro on September 12.
BTC ETF approval pending?
As the platform’s analysts further pointed out, the media attention and the “increased likelihood of a spot Bitcoin ETF happening soon [is] leading people to search up Bitcoin and see what it’s about.”
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At the same time, one of the prominent people certain of the approval of a spot Bitcoin ETF is Andrew Tate, a former world kickboxing champion and social media figure who is currently awaiting trial on rape and human trafficking charges in Romania.
On the other hand, John Reed Stark, a former SEC insider who served as an attorney at the regulatory agency, asserted that the chances of a spot Bitcoin ETF approval were “slim to none,” as he cited emerging evidence alleging the presence of manipulation in the crypto market.
Bitcoin price analysis
Meanwhile, Bitcoin was at press time changing hands at the price of $26,310, recording a marginal increase of 0.65% on the day, as well as gaining 2.20% across the previous week, while maintaining the loss of 10.49% on its monthly chart, but still gaining 58.1% since the year’s turn, as per data on September 14.
All things considered, the spot Bitcoin ETF approval could represent a positive development for the crypto industry and boost the value of the flagship decentralized finance (DeFi) asset, particularly in light of the market surging upon the earlier news of the BlackRock (NYSE: BLK) filing.
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