Financial services firm Cantor Fitzgerald believes approval of a Bitcoin spot exchange-traded fund (#ETF) by the U.S. Securities and Exchange Commission (#SEC) would be the “most significant near-term catalyst » for the price of Bitcoin. Analysts at Cantor Fitzgerald are increasingly confident that the SEC will approve a spot Bitcoin ETF due to the market surveillance procedures proposed by asset managers. The SEC has been reluctant to approve such a product due to concerns about manipulation on offshore spot platforms. However, the agency may approve new applicants if they have a comprehensive supervisory sharing agreement with a regulated market of significant size. Cantor Fitzgerald views the approval of a spot#ETFas a fundamental moment for the long-term adoption and legitimization of Bitcoin. The potential approval of a spot ETF has already driven up the price of Bitcoin in recent weeks.
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