Financial giant JP Morgan has made a bold prediction that the U.S. SEC Will Be Forced To Approve Bitcoin ETFs in the near future. The court’s decision was based on the SEC’s perceived “arbitrary and capricious” position, where it failed to clarify its differential treatment of futures-based ETFs and spot-based Bitcoin ETFs. JP Morgan Forecasts Approval for Spot Bitcoin ETFsNikolaos Panigirtzoglou commented in a note, “To justify its denial of Grayscale’s proposal, the SEC would need to reconsider and potentially revoke its prior approval of futures-based Bitcoin ETFs. While the potential approval of spot ETFs in the US represents a notable milestone, JP Morgan analysts have tempered their optimism with a word of caution. JP Morgan’s prediction that the SEC Will Be Forced To Approve Bitcoin ETFs signifies a significant shift in the cryptocurrency landscape.

Source: ABC News September 04, 2023 11:06 UTC