Steven Schoenfield, a former managing director at BlackRock, the world’s largest asset manager, and current CEO of MarketVector Indexes, believes that the US Securities and Exchange Commission (SEC) will approve a spot Bitcoin exchange-traded fund (ETF) within the next three to six months. This is a shift from his previous outlook of nine to twelve months. The SEC’s recent decisions, such as soliciting comments from the industry, and its defeat in the Grayscale lawsuit, have contributed to this shift in perspective. Martin Bednall, another ex-BlackRock director and now CEO of Jacobi Asset Management, believes that BlackRock’s industry stature could give it an edge in securing the spot Bitcoin ETF approval. However, Schoenfield believes that BlackRock will face intense competition from other firms deeply committed to tradable digital assets. Schoenfield also predicts that a spot Bitcoin ETF approval could result in a “$150 to $200 billion inflow” into Bitcoin investment products over the next three years, which could dramatically amplify the assets under management for Bitcoin products.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	8
People	Martin Bednall, Eric Balchunas, Steven Schoenfield
Companies	US Securities and Exchange Commission, BlackRock, Grayscale, Jacobi Asset Management, MarketVector Indexes
Currencies	Ethereum, Bitcoin
Securities	None