Renowned Fox Business correspondent Charles Gasparino is confident that the US Securities and Exchange Commission (SEC) will be compelled to grant approval for the launch of spot Bitcoin ETFs. Gasparino’s stance stems from the recent hacking incident on the SEC’s social media account, which has put the evaluation of spot Bitcoin ETF applications in a critical phase. Gasparino argues that rejecting these requests could lead to unprecedented damage to the regulator’s reputation.
According to Gasparino, legal experts who have previously engaged with the SEC on ETF approvals express a unanimous opinion: it would be highly unlikely for the commission to reject the applications at this stage of the process. In response to these developments, the market price of Bitcoin briefly approached $48,000 before retracing to $45,400 following the debunking of false information.