The content discusses the likelihood of the U.S. Securities and Exchange Commission (SEC) approving a Bitcoin spot exchange-traded fund (ETF). The article emphasizes that there are two potential avenues for a Bitcoin spot ETF through the SEC, but neither is expected to be successful. Grayscale’s lawsuit against the SEC is considered the best chance for launching a spot ETF. However, the author suggests that the probability of success in approving a spot bitcoin ETF in the near term is still relatively low. The article also mentions concerns about Coinbase’s market size and its potential impact on approval. The lawyer interviewed gives Grayscale a 50% chance of winning the lawsuit and Coinbase a 40% chance of facilitating BlackRock’s ETF approval, considering both odds to be optimistic.

AI Sentiment: Negative