BlackRock and Fidelity's involvement in the Bitcoin exchange-traded fund application with the SEC has caused the prices of Bitcoin and other major cryptocurrencies to rise. Analysts believe the chances of approval for a U.S. spot bitcoin ETF are relatively high, indicating a shift in the SEC's stance. However, the SEC is concerned about the reliability and manipulation risks of spot prices on exchanges like Coinbase. Coinbase's stock price has increased significantly due to its inclusion in the ETF applications.
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