The approval of spot Bitcoin ETFs in the US may be imminent, with experts suggesting that regulators will give the green light to all applications simultaneously. Former BlackRock executives share insights into this development, citing BlackRock’s influence as a key factor.
Former BlackRock executive Martin Bednall, now CEO of Jacobi Asset Management, predicts that the US Securities and Exchange Commission (SEC) will approve all spot Bitcoin exchange-traded fund (ETF) applications simultaneously. He believes the SEC aims to prevent any first-mover advantage and highlights BlackRock’s significant role in supporting these ETFs.
Steven Schoenfeld, former managing director at Barclays Global Investors, shares a shortened timeframe, suggesting approval could happen in three to six months, thanks to recent positive signs. The SEC’s request for comments and the Grayscale lawsuit’s outcome are cited as factors contributing to this optimism. The SEC’s potential approval of the Grayscale Bitcoin Trust (GBTC) conversion into an ETF further underlines the regulator’s evolving stance on crypto ETFs.