However, the court decision does not guarantee that the SEC will approve the ETF. SEC chairman Gary Gensler has long criticized the crypto industry as being full of "fraudsters and scammers," so whether the regulator will continue to fight against ETFs is an open question.
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Bernstein Research analytics company predicted that the price of bitcoin could rise to $150,000 by mid-2025. So far, this cryptocurrency has jumped to $35,000 and grew by 30% last month.
The company expects that the US Securities and Exchange Commission will approve an exchange-traded fund (ETF, a fund that directly invests in cryptocurrency) by the first quarter of 2024, according to CNBC. This could lead to a bullish market, where the current price could almost quintuple. It could more than double the historical record of $67,000 in November 2021.
Last week, the price of bitcoin reached its highest level since May 2022 due to investors having good hopes for approval of the ETF by the end of the year after the SEC (US Securities and Exchange Commission) decided not to appeal a key court decision against it, in the Grayscale lawsuit.
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