Hopes of approval for a spot Bitcoin (BTC) exchange-traded fund by the United States Securities and Exchange Commission boosted Bitcoin’s price by 27% in October. This improved sentiment, attracting aggressive buying by crypto investors.

Bloomberg senior ETF analyst Eric Balchunas highlighted in a post on X (formerly Twitter) that ProShares Bitcoin Strategy ETF (BITO), the first futures-based ETF to get regulatory consent in the U.S. in 2021, saw its second biggest trading week ever at $1.7 billion. Similarly, Grayscale Bitcoin Trust (GBTC) recorded a volume of $800 million. The sharp uptick in volume in the existing instruments shows that spot Bitcoin ETFs are likely to witness huge…

Read more on Cointelegraph