Cryptocurrency-market investors are growing more confident that the US Securities and Exchange Commission will soon give the green light for an exchange-traded fund that invests directly in bitcoin (BTC-USD). This narrative has been playing out in bitcoin itself, as the price of the highest-profile token surged nearly 35% just from a month ago. Proponents of a spot bitcoin (BTC-USD) ETF have contended the approval of such a product would open up bitcoin investing to a wider range of investors and therefore become a more widely accepted asset class. Coinbase Global, the largest crypto exchange in the US, said in a report the product, if approved, may open crypto markets to players in traditional finance, including registered investment advisor. Over the long run, a BTC-USD ETF may add billions of dollars to the overall crypto market cap, which stood at $1.38 trillion on Thursday.