Though 2021 has been a year during which bitcoin hit an all-time-high price and saw increased demand from institutional investors, the expectations around when the US Securities and Exchange Commission (SEC) could approve a spot bitcoin ETF are not as bullish. Bloomberg Intelligence Analysts Eric Balchunas and James Seyffart wrote in a note published last week that proposed ETFs that would invest in bitcoin directly “have virtually no chance of SEC approval in the near term,” given the agency’s concerns about lack of oversight and potential for market manipulation. The prediction follows the SEC’s denial of VanEck’s ... (full story)