TD Cowen: US SEC’s approval of spot Bitcoin ETF is a “political necessity”

Odaily News According to investment bank TD Cowen, the U.S. Securities and Exchange Commission will approve a spot Bitcoin exchange-traded fund before the January 10 deadline, which is seen as a political necessity. TD Cowen’s Washington research group, led by Jaret Seiberg, wrote in a report on Tuesday: “For us, this is a political imperative as the agency needs to get ahead of Congress considering broader cryptocurrency legislation. , solidifying its role as a cryptocurrency regulator. We also believe the agency does not want to face legal challenges in its refusal to approve a Bitcoin ETF.” (The Block)