Over the past few months, much attention has been given to the potential approval of a spot Bitcoin (CRYPTO: BTC) exchange-traded fund (ETF) by the Securities and Exchange Commission (SEC). Many investors and analysts believe such approval will be a catalyst for broader adoption of Bitcoin because it would allow institutional money managers to include the ETF in various investment vehicles, such as pension funds and 401(k)s.

However, as the SEC stalls on its review of the multiple spot Bitcoin ETF applications, another profound development recently occurred, and it could be more meaningful.

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Source Fool.com