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Ex-SEC Official Discusses Bitcoin ETF Application Approval

The cryptocurrency world has been rife with anticipation regarding the potential approval of a Bitcoin spot ETF application by the U.S. Securities and Exchange Commission (SEC). John Reed Stark, a former official of the SEC, recently took to Twitter to share his perspective on this matter. In a comprehensive post, Stark outlined his reasons for believing that the current SEC might not be inclined to approve such an application in the foreseeable future.

Stark’s insights come at a time when the crypto industry is witnessing a surge in the number of Bitcoin spot ETF applications. These applications aim to provide investors with exposure to Bitcoin without the need to hold the cryptocurrency directly. If approved, a Bitcoin spot ETF would mark a significant milestone for the crypto industry, potentially attracting a broader range of institutional and retail investors.

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin67,834 0.14 % 2.31 % 3.31 %
Litecoin85.74 0.46 % 1.02 % 4.25 %
XRP0.5300 0.12 % 0.24 % 2.59 %
Ethereum2,197.2 0.23 % 0.67 % 2.46 %
Dogecoin0.1548 0.37 % 0.09 % 7.69 %
Solana171.72 0.52 % 3.86 % 7.15 %
USDC1.000 0.10 % 0.02 % 0.08 %
Cardano0.2543 0.15 % 1.68 % 3.38 %
Tether0.9990 0.10 % 0.04 % 0.02 %
Binance Coin (Wormhole)222.47 0.38 % 4.71 % 3.08 %