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Coinbase's Grewal Is 'Quite Hopeful' That Bitcoin Spot ETFs Will be Approved

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Crypto exchange Coinbase's chief legal office Paul Grewal is"quite hopeful" that bitcoin spot exchange-traded fund applications will be approved by the U.S. Securities and Exchange Commission .

If a spot bitcoin ETF is approved, the asset managers will need to buy, own and store the digital assets for its clients, similar to aThe bitcoin price could rise to between $42,000 and $56,000 if the BlackRock ETF is approved, according to crypto services provider. Such bullish price action would also help crypto-linked stocks such as Coinbase, MicroStrategy and miners including Marathon , Riot Platforms .

 

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