Bitcoin Price Prediction Hits $70,550 Amid ETF Speculation & LSE’s Crypto Move

cryptonews.com:

During the Asian session, Bitcoin price has showcased its resilience, ascending over 1% to reach $70,550, reigniting discussions around Bitcoin price prediction. Amidst a financial landscape punctuated by anticipation for regulatory decisions and the adoption of digital currencies on traditional exchanges, Bitcoin’s value trajectory becomes a focal point.

This environment, combined with institutional investment signals and strategic market moves, underlines the crypto asset’s bullish momentum, setting the stage for future valuation explorations.

Grayscale remains hopeful about securing approval for spot Ether (ETH) ETFs in May, despite perceived communication gaps with the U.S. Securities and Exchange Commission (SEC). Chief Legal Officer Craig Salm is optimistic, drawing parallels from the firm’s experiences with Bitcoin ETFs.

3/ All of these issues were figured out and are identical when comparing spot #Bitcoin to #Ethereum ETFs. The only difference is rather than the ETF holding bitcoin, it holds ether. So in many ways, the SEC already has engaged and issuers simply have less to engage on this time.

— Craig Salm (@CraigSalm) March 25, 2024

Yet, the inclusion of staking in Ether ETFs presents a unique hurdle. While Bloomberg analysts see only a 25% chance of approval due to concerns over SEC engagement, the recent green light for Ether Futures ETFs, regulated as commodity futures, offers a glimmer of hope.

There’s no reason to sour hopes for a spot #Ethereum ETF, says @Grayscale’s @CraigSalm. https://t.co/I3QDOODl72

— Cointelegraph (@Cointelegraph) March 26, 2024

Key industry figures align with this positive outlook, awaiting the SEC’s decisive verdict by May 23, which will significantly influence Ether and Bitcoin’s