JPMorgan: After the court ordered the SEC to review Grayscale's application for ETF conversion, the likelihood of approval for a spot Bitcoin ETF has increased

ChainCatcher news, JPMorgan stated in a report that "after the U.S. Court of Appeals ordered the U.S. Securities and Exchange Commission (SEC) to review Grayscale's application to convert GBTC into an ETF, the likelihood of a spot Bitcoin ETF being approved has increased, but such approval is unlikely to change the game for the cryptocurrency market. Spot Bitcoin ETFs have existed outside the U.S. for some time but have failed to attract significant investor interest."