Bitcoin, the leading cryptocurrency, is currently making its way towards $37,000, experiencing a surge of nearly 4% in the last 24 hours. This recent growth can be attributed to speculations surrounding the conversion of spot Bitcoin ETFs, which is expected to attract significant institutional investments into the cryptocurrency market.
According to Bloomberg analysts Eric Balchunas and James Seyffart, there is an eight-day window in which the SEC could potentially approve all 12 spot Bitcoin ETF applicants starting from November 9th. The analysts estimate a 90% chance of a Bitcoin spot ETF being approved by January.
