JPMorgan Believes BTC ETF Approval More Likely After Grayscale’s Victory
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A verdict by a US court in the Grayscale case on August 29 has raised the possibility of a spot Bitcoin ETF given the court’s statement that refusal by the Securities and Exchange Commission (SEC) to make the conversion was “wrongful and arbitrary.”
JPMorgan analysts now believe the SEC will have no choice but to approve some applications for a Bitcoin ETF, which is based on spot prices rather than the futures-based products currently on the market.
The analysts caution, however, that this change in stance might not be game-changing for the crypto market, given the low interest it has so far received in jurisdictions where the product is permitted.
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