Bitcoin spot ETF: What are the odds of approval?

Questions are swirling about whether or not the U.S. Securities and Exchange Commission will approve a spot bitcoin ETF (BTC-USD). Yahoo Finance Crypto Reporter David Hollerith explains that eight companies have filed for approval since BlackRock (BLK) did so back in June. Hollerith explains the situation, stating "The SEC has several opportunities from here to either approve, deny or push off approval for these applications." Hollerith notes that many argue that Bitcoin is "not regulated enough and too manipulatable" as reasons for pushback against the potential spot ETF.