Jinse Finance reported that Tether consultant Gabor Gurbacs said that regulators do not have sufficient reasons not to approve a Bitcoin ETF. The SEC cited concerns about potential market manipulation, custody issues, and the overall maturity of the underlying market, with spot bitcoin ETFs representing direct ownership of underlying assets such as bitcoin. When you buy a share of a spot ETF, the fund effectively acquires an equivalent amount of assets, providing near-one-for-one exposure, and it can expand the investor base for Bitcoin by giving individuals and institutions a familiar and widely regulated way to gain exposure to Bitcoin. It may increase liquidity and improve price discovery. Second, it may lead to an increase in institutional adoption, which in turn can help improve market stability and reduce price volatility. There is no way to know when the spot Bitcoin ETF will bear the market, but the situation is slightly different from 2018. El Salvador, for example, made bitcoin legal tender in 2021, and some companies are already accumulating bitcoin or using it as part of financial or investment management. BlackRock's interest is only part of this new shift, and approval of its application could change the bitcoin game forever.