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RE: The price of Bitcoin is reflexive, interest increases as the price rises.
Yep. I also think chances are high the SEC will not approve the ETF. After all, what have they got to gain from that? But would could they lose? Their first and foremost job is to protect investors, so by design they gotta be conservative.
So let's rather bet on the institutionals, and generally on adoption of crypto and blockchain, which has obviously improved over the last months.
Exactly. They have everything to gain by being overly conservative as opposed to being overly aggressive when it comes to approving an ETF.