Former BlackRock Insider Foresees Bitcoin ETF Green Light By SEC Within Months
Portfolio Pulse from Murtuza Merchant
Steven Schoenfield, former managing director at BlackRock and current CEO of MarketVector Indexes, predicts that the SEC will approve a Bitcoin spot ETF within three to six months. This is a more optimistic estimate than his previous one of nine to 12 months. BlackRock, with $9.42 trillion in AUM and a 575-1 success rate with the SEC for ETFs, is in a strong position to secure approval for a Bitcoin spot ETF.
October 04, 2023 | 7:10 pm
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BlackRock is in a strong position to secure approval for a Bitcoin spot ETF due to its impressive track record with the SEC.
Given BlackRock's impressive track record with the SEC and the predicted approval of a Bitcoin spot ETF, it is likely that BlackRock will be among the first to secure approval. This could potentially increase the company's AUM and positively impact its stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
The predicted approval of a Bitcoin spot ETF by the SEC could potentially increase the demand for Bitcoin.
The approval of a Bitcoin spot ETF would make Bitcoin more accessible to a wider range of investors, potentially increasing the demand for Bitcoin and positively impacting its price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90