Spot Bitcoin ETF Approvals Imminent; Bitcoin Price Surges in Anticipation

Analysts Divided on Impact of Approvals; Bitcoin Halving Event Expected in April

Regulatory approval of spot bitcoin ETFs is expected in the next few days, which would allow institutions to directly hold bitcoin assets.
Thirteen spot bitcoin ETF applications are awaiting approval from the Securities and Exchange Commission, including applications by BlackRock, ARK Invest, Grayscale Investments, WisdomTree, VanEck, Valkyrie, Invesco and Fidelity.
Bitcoin spiked to 20-month highs above $45,000 to start 2024 and traded above $44,000 on Thursday.
Analysts are divided on the impact ETF approvals will have on bitcoin's price, with some predicting a 'sell-the-news' event in the short term.
The next halving event for bitcoin is expected around April 2024, which historically has led to a rise in the price of bitcoin.