Invesco and Bitwise have updated their Bitcoin ETF proposals to meet SEC's cash creation requirements.

The SEC is reconsidering its approach towards Bitcoin ETFs, favoring a cash redemption model.

Approval for a spot Bitcoin ETF could soon be granted, leading to increased institutional adoption and trust in Bitcoin.

Recent court rulings have prompted the SEC to reconsider Bitcoin ETF proposals, and multiple applications are currently under review.

There is optimism that the SEC may approve multiple Spot Bitcoin ETF applications, possibly as early as Q1 2024.

Approval of these ETFs could facilitate crypto use in bank transactions and increase its involvement in daily transactions.