While the crypto community is waiting for the SEC’s decision on whether to approve spot Bitcoin ETF applications or not, some of the traders are using this opportunity to gamble whether they will get approved by January 15.
At the gambling site Polymarket, traders have voted their “yes or no” bets on whether to approve Bitcoin ETF applications. Around $1.5 million worth of bets have taken place, with most traders buying shares “yes.”
At the time of writing, the value of a ‘yes’ was $0.79, while a ‘no’ was $0.21, and these values keep fluctuating as per the crypto market.
A pseudonym named “Kiwi” among the top holders has around $421,000 in ‘yes,’ while the top holder with ‘no’ holds only around $15,000.
According to Polymarket, if the SEC approves any Bitcoin ETF by January 15, 2024, at 11:59:59 p.m. Eastern Time, the market outcome will be deemed “yes.” If not, the result will be “no.”
Investors will determine their gains or losses based on this outcome. While the SEC is the primary source for resolving this market, a consensus from reputable news outlets might also be considered.
Also Read: Speculation Peaks for Spot Bitcoin ETF Approval Tomorrow
