After experiencing a brutal crypto winter in 2022, Bitcoin (CRYPTO: BTC) experienced quite a rebound last year. The Dow Jones Industrial Average, S 500 index, and Nasdaq Composite all posted double-digit gains last year as investor sentiment around the overall state of the economy started to strengthen. As such, crypto experienced some renewed interest, and Bitcoin surged over 150%.

Yet despite Bitcoin's robust return last year, many believe that 2024 could be even better. One of the primary reasons for such a positive outlook is the looming approval of spot Bitcoin exchange-traded funds (ETFs). This is an important development, because the approval of spot Bitcoin ETFs would add some much-needed validation to the crypto landscape from regulatory authorities.

However, earlier this week SEC Chairman Gary Gensler posted to X (formerly Twitter) notifying the public that the government agency's account had been hacked -- causing many to question if approval for the ETFs were imminent or not.

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Source Fool.com