A company called Ark Invest wants to create a new way for people to buy and sell Bitcoin. They are working with another company, 21Shares, to make this happen. But first, they need permission from the SEC, which is a group of people who decide if things like this can be done. Right now, there's a lot of competition between different companies that want to create similar ways to buy and sell Bitcoin. So, Ark Invest and 21Shares decided to lower the amount of money they will charge people for using their service. They are also offering special deals to get more people interested in using it. Read from source...
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Explanation: The article discusses the potential approval of a Spot Bitcoin ETF by the SEC and how both Ark Invest and BlackRock are competing to attract investors with lower fees. This indicates that there is interest and demand for Bitcoin as an investment option, which can be seen as a positive sentiment for the cryptocurrency market. Additionally, Cathie Wood's optimism about the SEC's decision further supports this positive outlook.