Are the chances of a bitcoin spot ETF approval increasing?

And one analyst feels the chances of that happening have just increased. What Happened: Bloomberg’s senior ETF analyst, Eric Balchunas, has raised his confidence in Bitcoin (CRYPTO: BTC) Spot ETF approval from 90% to an even more optimistic 95%.

Did crypto bolster Balchunas' social media numbers?

Even though Balchunas has been in the game for a long time, he’s quick to admit that the crypto community really bolstered his social media numbers. “Crypto people are really good at engagement, it has really increased my following,” he says.

Will Balchunas become a tradfi version of Doctor Dolittle?

Balchunas has been pumping up his 219,200 X followers with increasing confidence this would happen since June 2023, with almost every utterance hung on by Bitcoiners. He pretty much took on a second role, becoming the TradFi version of Doctor Dolittle, but instead of talking to the animals, he’s talking to the crypto bros.