Bitcoin surged on Monday, October 16, hovering just below $30,000 on false reports of BlackRock (BLK) receiving SEC approval for a spot bitcoin ETF. Could this renewed enthusiasm in the crypto space hold and what does it say about the timeline of a future bitcoin ETF?
Devin Ryan, Citizens JMP Securities Director of Financial Technology Research, joins Yahoo Finance Live to discuss the likelihood of the SEC ever approving a spot bitcoin ETF.
""The expectation is that one gets through, then it's kind of essentially check the boxes to be able to be approved,"" Ryan says on making the case for future approvals. ""That's kind of this dynamic on unlocking significant capital that really has just not been participating in the space yet.""
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