Ahmet Bedirhan Arvas 
With increasing expectations for the approval of a spot Bitcoin ETF in the markets, it has been announced through Bloomberg that the approval rate for a Bitcoin ETF has surpassed 90%.
You may notice: Grayscale Updated Bitcoin ETF Application!
Two renowned analysts within Bloomberg revealed that the likelihood of approval for a spot Bitcoin exchange-traded fund (ETF) in the United States has risen to over 90% ahead of the Securities and Exchange Commission (SEC) decision.
Bloomberg ETF analyst Eric Balchunas addressed the possibility of the SEC rejecting the proposals after the updates on Friday. Balchunas mentioned on Saturday that this likelihood could be around 5%. He referred to the November estimates, stating that the approval rate was predicted to be 90%, and the recent updates to the applications indicated positive progress.
All eyes in the cryptocurrency market are on the expected announcement of the first spot Bitcoin ETF approval by the SEC this week. This news makes Bitcoin one of the most closely watched catalysts in its history.
More than a dozen applicants hope to launch the first spot Bitcoin ETFs in the United States. On Friday, companies like BlackRock, Grayscale, Fidelity, and other applicants updated their applications, redirecting attention towards the SEC.