How far could an ETF approval push crypto?

Jay Clayton, former SEC chief, is hinting at a potential U.S. Bitcoin ETF launch. His confidence is high, asserting that Bitcoin doesn't fall under the "security" category, and both the average investor and major institutions are eager to dive into the Bitcoin market.

The current scenario is this: We already have futures-based Bitcoin ETFs, but the SEC has yet to give the green light to a spot Bitcoin ETF.

A recent court ruling has called out the SEC for this inconsistency, highlighting that they're accepting one type of ETF while rejecting the other, despite similar risk profiles.

Consequently, the SEC has postponed decisions on spot Bitcoin ETFs until mid-October. Could this be the moment we've been waiting for?

Jay Clayton seems to think so. He's optimistic that progress is on the horizon.

Furthermore, JPMorgan shares the same sentiment. They anticipate the approval of a spot Bitcoin ETF, especially in the wake of Grayscale's legal victory against the SEC.

The path to a U.S. Bitcoin ETF may be shorter than we anticipated.

How far do you guys think it would push the market if approved this year? Are new ATHs in play?