Marathon Digital CEO Optimistic about Spot Bitcoin ETF Approval
Marathon Digital CEO, Fred Thiel, remains positive about the potential approval of a spot Bitcoin (BTC) Exchange Traded Fund (ETF) by the Securities and Exchange Commission (SEC). Thiel’s positivity stems from the interest shown by significant institutional investors and the possibility of a spot Ethereum ETF approval in the near future.
Key Points:
- Thiel believes that the involvement of Larry Fink and BlackRock in pursuing a BTC ETF indicates a high chance of approval.
- Thiel suggests that if the SEC approves a spot ETF for Ethereum, it increases the likelihood of approving a spot Bitcoin ETF as well.
- Bitcoin has not been flagged as a security by the SEC, making it more likely to achieve fair regulatory compliance.
- Thiel, like many digital asset executives and bulls, predicts the odds of SEC approval to be better than 50%.
- The interest of institutional investors, including BlackRock and Fidelity Digital, raises hopes for the approval of a spot BTC ETF.
Hot Take:
The growing interest from institutional investors and the potential approval of a spot Ethereum ETF indicate a positive outlook for the approval of a spot Bitcoin ETF. Bitcoin’s status as a non-security asset and the need for positive market outcomes may further sway the SEC’s decision. With the potential approval of a spot BTC ETF, the market is expected to experience increased liquidity and transaction volumes across decentralized finance applications.
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