The U.S. Securities and Exchange Commission (SEC) has officially acknowledged the spot bitcoin ETF application from Bitwise Asset Management. This highlights the increasing institutional involvement in cryptocurrency investments. Bitwise’s filing adds to the growing number of institutional applications for spot bitcoin ETFs, with BlackRock’s application also contributing to this trend. Analysts believe that BlackRock’s move towards a bitcoin ETF sends a strong message due to its influence and attention to detail. However, the success of any spot bitcoin ETF application depends on various factors, including an analysis of the CME market and surveillance-sharing agreements.

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