- Bitcoin and crypto stock Coinbase have soared on hopes of a spot Bitcoin ETF approval.
- Approval of a spot Bitcoin ETF would offer wider access to the cryptocurrency.
- SEC has rejected spot Bitcoin ETF applications in the past due to fraud and market manipulation concerns.
- Analysts warn that Coinbase may not meet the criteria for a regulated market or significant size.
- Coinbase's custody revenue from a potential BlackRock fund approval may not be significant.
Bitcoin, Coinbase Are Soaring Despite Obstacles Facing Spot Bitcoin ETFs
Analysts warn steps to limit market manipulation might not clear SEC’s bar
Vicky Ge Huang
