Analyst Nate Geraci on Sunday raised concerns about the possibility of the spot Bitcoin (CRYPTO: BTC) exchange-traded funds (ETF) application failing to receive approval. What Happened: Geraci on X said, “If spot bitcoin ETF not approved in January, might be one of bigger rug pulls in crypto history…Not my base case, but can’t entirely rule out given history here which is why I said close to 100%. That said, sticking w/ my original pre-Grayscale court victory prediction.” Geraci was referring to the concerns with regulatory compliance that the Securities and Exchange Commission (SEC) has histo…