Financial services firm Cantor Fitzgerald is growing increasingly confident in approving a spot Bitcoin exchange-traded fund (ETF). The U.S. Securities and Exchange Commission (SEC) has been reluctant to approve a Bitcoin spot ETF due to concerns about potential manipulation on offshore spot platforms. However, Cantor Fitzgerald believes that the market surveillance procedures proposed by the new applicants could address these concerns and prompt the SEC to seek approval. The firm's analysts stressed the importance of establishing a "comprehensive supervisory sharing agreement with a regulated market of significant size" to appease regulators. Approval of a spot ETF would have significant near-term implications for the price of Bitcoin and would be a pivotal moment for the long-term adoption and legitimization of the cryptocurrency. Anticipation of an ETF spot approval has already led to a surge in the price of Bitcoin.

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