Recently, the cryptocurrency sector has seen a surge in ETF applications, particularly focusing on Bitcoin spot ETF applications. Multiple financial institutions are accelerating their layouts, hoping to expand market share and promote the mainstream adoption of crypto assets. This move indicates that the trend of integration between traditional finance and the crypto industry is accelerating. If the relevant ETFs are approved, they will provide investors with more convenient investment tools for crypto assets, while also potentially enhancing market transparency and compliance. However, regulatory uncertainty remains a key challenge, and the market is full of anticipation for the final approval results. This wave may profoundly impact the development of the global crypto financial ecosystem.