PANews reported on May 23 that 10x Research posted on the X platform: "A few hours before the Bitcoin spot ETF was approved, Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), tweeted that cryptocurrency investors should consider all potential risks before making any investment. There may be a tweet at about 9 a.m. Eastern Time this morning to provide more clear information on whether approval is imminent. Just as the SEC previously issued a warning signal before the listing of an ETF related to cryptocurrency futures, January 2024 also clearly indicates that the Bitcoin ETF will be approved."
10x Research further stated: “Today, the market will be waiting for a similar ‘warning’. However, approval appears to be a matter of formality, as the Grayscale Ethereum Trust’s discount has narrowed from -30% a week ago to just -8%. An 8% discount means there is at least a 90% probability that the ETF will be approved. The trust manages $11 billion in assets, which is quite large and may see some outflows from investors cashing in on gains. The key question remains when these ETFs will start trading if approved.”
