**Bitcoin ETFs Get SEC Green Light, Potentially Boosting Liquidity**

Big news for Bitcoin enthusiasts! The U.S. Securities and Exchange Commission (SEC) has approved applications from the NYSE and CBOE to list options for spot Bitcoin (BTC) exchange-traded funds (ETFs). This move, announced on Oct. 18, could significantly enhance liquidity for the 11 approved Bitcoin ETF providers.

QCP Capital believes this approval will attract sustainable inflows, reinforcing institutional demand. With ETFs already accounting for 75% of new Bitcoin investments, this could drive Bitcoin’s price to new highs.

Additionally, the upcoming 2024 US presidential elections may boost risk-on sentiment, further propelling Bitcoin and other cryptocurrencies. Popular crypto analyst Rekt Capital suggests that Bitcoin needs a weekly close above $68,700 to confirm a breakout, supported by recent positive ETF inflows. Stay tuned!