Bitcoin's price action last year (more than doubling in 2023) was driven, in large measure, by a rebirth in interest in spot bitcoin exchange-traded funds (ETFs).
It remains an open question whether the SEC will approve one or many of the dozens of open spot bitcoin ETF applications, though a denial is still in the cards. Bitcoin ETFs remaining in limbo, i.e. the status quo, might not even be bad for crypto.
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