JPMorgan: Approval of Spot Bitcoin ETF Unlikely to Have Major Impact on Crypto Markets

JPMorgan's research report suggests that the approval of a spot bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC) would not significantly impact the crypto markets. The report highlights that similar ETFs have already been established in Canada and Europe, but they have struggled to attract substantial investor attention.

Despite the SEC receiving numerous applications for a bitcoin ETF, it has not granted approval thus far. However, there is growing optimism that the regulator may approve one in the future, as recent filings are believed to have addressed some of the previous concerns.

The JPMorgan report emphasizes that spot bitcoin ETFs have been operational outside the United States for a while but have not gained significant traction among investors. The analysts, led by Nikolaos Panigirtzoglou, point out this lack of interest as a key factor in their assessment

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