While recent events and news increased hopes that the spot Bitcoin ETF will be approved in the near future, BTC and altcoins also welcomed this news.
Solana (SOL), which attracted attention with its rise as BTC approached $ 30,000, rose to $ 27 and Bitcoin SV (BSV) rose to $ 55.
While a positive atmosphere prevails in the market, Coinbase chief legal officer Paul Grewal said that he is confident that the spot Bitcoin ETF will be approved in the USA.
Speaking to CNBC, Paul Grewal stated that he is very hopeful that spot ETFs will be accepted.
“After the events, I think the SEC will approve spot Bitcoin ETFs in the near future.
Because the SEC suffered a great defeat against Grayscale. The SEC failed to prevent Grayscale from converting its GBTC fund into an ETF.
The SEC announced last week that it would not appeal the decision. This paved the way for a Bitcoin-related ETF to be approved in the coming months.
I am confident that the SEC will fulfill its responsibilities after the U.S. Court of Appeals made clear that the SEC cannot arbitrarily or capriciously deny spot ETF applications.
“At this point, I cannot give a clear date for when the approval will come, but I think it will come soon.”
Finally, Grewal warned investors: “Although there is optimism about the ETF, ultimately the decision will belong to the SEC and we cannot know 100% what it will decide.” said.