Before you believe any random report on Bitcoin Spot ETF rejection chances.
Understand that a random report with Zero credibility could be a trap.
The chances of approval are much higher than rejection. Just because a report has appeared out of nowhere does not mean that the ETF will be rejected.
1) Never before we have seen Blackrock, Fidelity and 11 other well-known large asset management companies applied for a Bitcoin SPOT ETF.
2) Never before has the SEC lost a case against Grayscale in court to review Grayscale's application to convert an existing fund into a spot ETF.
3) Never before has the SEC had so many meetings with ETF applicants and discussed the intricacies of launching spot ETFs. For example, the spot ETF redemption process was discussed.
4) There has never been an institutional demand for Bitcoin in history.
5) Never before SEC has asked for so many amendments before final submission.
6) Never before almost everyone has been so sure about SPOT ETF approval. Including media, politicians, financial analysts and retail.
Even if Bitcoin gets rejection the case will go straight into the court once again and SEC might face an embarrassment there like in Grayscale case.
Bitcoin Spot ETF has to get approved if not now then sometime later but one thing is for sure that approval is:
IMMINENT IN 2024!
