Why is it said that the United States has a higher chance of successfully issuing a Bitcoin ETF this year?

Bitcoin has gained widespread attention, with several high-profile figures becoming supporters and advocating for more public adoption of the cryptocurrency .
Although many people have added Bitcoin to their portfolios, for some investors, no matter how attractive the long-term model of the asset is, they are skeptical about trading Bitcoin directly due to several concerns. For these investors, a Bitcoin ETF is a good solution to their ambivalence about wanting to allocate Bitcoin. However, since the crypto asset has gained attention, American investors have not had much luck in obtaining such an ETF, and attempts to launch an ETF have completely failed.
Fortunately, there are several indicators that we will see an influx of Bitcoin ETFs into the U.S. financial sector before long. For example, the Securities and Exchange Commission said on Friday that it is reviewing the WisdomTree Bitcoin exchange-traded fund (ETF) and will release the results of its evaluation via a press release. This brings the number of ETFs filed with the SEC to eight, with VanEck's Bitcoin ETF and the recently filed WisdomTree Bitcoin ETF under review. Prior to this, the SEC had rejected several Bitcoin ETF applications in the past, partly due to strict market policies that essentially treat digital assets as whimsical ideas.
Nonetheless, with the flexibility of the system and new, more favorable legislation, there is reason to believe that these new EFTs will be evaluated favorably.
Another factor for optimism is the appointment of a new chairman of the Securities and Exchange Commission, which has faced sharp criticism recently for its stance on several cryptocurrency issues.
Mati Greenspan, founder of Quantum Economics, said in a newsletter about the LBRY case, "We don't know who's calling the shots there right now, but they don't seem to be friendly to the crypto industry at all." On April 12, with Gary Gensler confirmed as the new chairman of the SEC, the public, especially cryptocurrency advocates, hope that it will make more favorable decisions on digital assets, such as in the field of Bitcoin ETF review. SEC Commissioner Hester Peirce pointed out in an interview with Avi Salzman of Barron's that she didn't know whether the SEC would start approving Bitcoin ETFs.
Nonetheless, the SEC is indeed in a period of transition that could bring a breath of fresh air to the cryptocurrency industry. Specifically, one of the main reasons to believe that the United States is closer than ever to issuing its first Bitcoin ETF is that people are worried that there will be new cryptocurrency-related innovations flourishing abroad and that the United States lags behind other countries in cryptocurrency regulation and adoption, as Pierce said in an interview with Salzman. When Pierce was asked if she thinks the United States is lagging behind in cryptocurrency-related innovation, Pierce noted that she believes they are "behind the curve." With other countries such as Canada and Brazil approving Bitcoin ETFs and developing more proactive policies for cryptocurrencies, the United States may take the first step in the same direction in an effort to surpass other countries. ( Blockchain Knight)