Bitcoin surged to $45,000 in Dec 2023, up 170% from the start of the year, bouncing back from a 2022 decline tied to FTX exchange issues and a US banking crisis.

The hope for SEC approval of a Bitcoin Spot ETF fueled the recent price surge.

Bitcoin Spot ETFs are funds buying and holding Bitcoins, offering exposure without direct ownership.

ETFs can be traded on stock exchanges, making them more accessible than physically owning Bitcoin.

Bitcoin's risks make ETFs appealing to those wary of direct crypto investment.

Matrixport's concerns about a Bitcoin ETF's uncertainty caused a 10% Bitcoin price drop.

Companies like Grayscale, BlackRock, Invesco applied for SEC approval for their Bitcoin ETFs, but SEC hesitates due to manipulation fears.

SEC rejected past Bitcoin Spot ETFs due to concerns about manipulation and security risks.

In June 2023, SEC approved Bitcoin Futures ETFs, offering a different approach than Spot ETF

Grayscale's appeal of the 2022 rejection led to a review, renewing hope for Bitcoin Spot ETF approval by the SEC's Jan 10 deadline, with the outcome uncertain.