A Closer Look at BTC Volumes and the Likelihood of a Spot Bitcoin ETF Approval

Chart of the day is presented by crypto dot com. The leading crypto platform trusted by over 80 million users worldwide. All right, let's take a look at the chart of the day. A recent report by Ko uses a minute by minute analysis of the most volatile periods to assess the likelihood of a spot. Bitcoin ETF. The SEC has cited a lack of surveillance sharing and the potential for manipulation as reasons for rejecting previous spot Bitcoin ETF applications. But our new surveillance sharing agreements with Coinbase enough for an approval. This chart shows that since 2021 Coinbase has grown its market share during the most volatile minutes and consistently has the second or third highest volumes when prices are swinging the most. It's difficult to imagine a scenario in which an entity could manipulate an Etf's price over a short time frame without also attempting to manipulate the price on Coinbase, meaning it should fit the definition of a significant market. Ko says that should this not be enough a self regulatory organization like the intermarket surveillance group in this case, composed of top crypto exchanges would further bolster the anti manipulation case and likely serve as a net positive to the industry in the long run. That's it for today's chart of the day. I'm Jen Sani. We will see you next time to unpack more of the data behind top news stories.