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Bitcoin is in a pivotal stage of its evolution as an asset class. After numerous back and forth talks and exchanges, United States regulator Securities and exchanges Commission (SEC) met with BlackRock for a fourth time over their application for a spot price Bitcoin ETF late last week, sparking even more hope that an approval will come soon.Freepik What is the impact of BTC spot ETF?To understand the significance of a Bitcoin spot price ETF, it’s important to know the background. t’s been managed and handled much like a commodity: first only possession of the Bitcoin tokens themselves was an option (obviously often at great expense and requiring unique digital storage facilities) and then, after some years of this, futures ETFs were approved. This opened up a way for investors who didn’t have the cash for buying Bitcoin outright – now they could buy a futures contract.As FTI Consulting explains: “futures contracts [enable] the ETF allows investors to buy or sell the asset at a future date at a set price. Regardless of the asset’s actual price that day, you must buy or sell the asset at the stipulated price on the specified date. While the contracts will attempt to track the spot price of Bitcoin, the ETF will not necessarily correlate with the actual price.”This is where a spot ETF would be a radical departure: a regulation-backed product which correlated in real time to Bitcoin’s price, right now, as determined according to its correlation to an existing and established market (such as cash in US dollars, for example).This is what FTI Consulting calls “the middle ground between crypto and traditional investing” and it is, understandably, kind of a big deal in the journey of Bitcoin as a market in its own right. There are seemingly more signs every day that an SEC approval of at least one spot Bitcoin ETF (BlackRock is a favorite contender for many) within the next month.More By This Author:Here’s Why WTI And Brent Crude Oil Prices Are Tumbling Adobe’s $20 Billion Figma Acquisition Is In LimboFTX Files Revised Plan To Repay Creditors As Bankruptcy Legal Fees Hit USD 53K/H