The bitcoin price has bounced back after a sell-off last week, with some investors and crypto market ... [+] watchers making bullish bitcoin predictions, pointing to the success of ethereum.
Getty Images"There’s still a high probability that the U.S. is just going to follow Canada, maybe with a futures-based bitcoin ETF," Bloomberg Intelligence senior commodity strategist Mike McGlone told Stansberry Research last week.
"There are now over [bitcoin ETF] 30 applications, and the fact that money is migrating from the U.S.—from Cathie Wood and Ark—towards Canada, the pressure is quite strong and high for the U.S. regulators to say: 'All right, we’re kind of missing out here and we need to do that.'"
Earlier this month, major investor Fidelity urged the SEC to approve a bitcoin ETF, pointing to increased investor appetite for virtual currencies, growing bitcoin adoption the existence of similar funds in other countries, according to media reports. However, the SEC has signaled it will continue its cautious approach under new chair Gary Gensler, following suit with his predecessor Jay Clayton.
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