ETF (Exchange Traded Fund) approval is usually conducted by relevant financial regulatory agencies, such as the U.S. Securities and Exchange Commission (SEC).

For cryptocurrency-related ETFs, the application and approval process has experienced many twists and turns in the past few years. The SEC's focus on cryptocurrency ETFs is mainly on market manipulation, liquidity, and investor protection.

The possibility of ETF approval is high, but there is still some uncertainty. Taking into account market trends and regulatory environment, the probability of approval is predicted to be between 60% and 70%.

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