Steven Schoenfield, former managing director at BlackRock, believes that the U.S. Securities and Exchange Commission (SEC) may approve a Bitcoin spot (ETF) within the next “three to six months.” BlackRock, which manages a colossal $9.42 trillion in assets, has a track record of a 575-1 success rate when it comes to obtaining ETF approvals from the SEC, making it the top contender for spot Bitcoin ETF approval. Martin Bednall, CEO of Jacobi Asset, expressed his belief that BlackRock’s strong brand and extensive resources would provide a first-mover advantage should the SEC greenlight Bitcoin spot ETFs. Schoenfield’s company has conducted an analysis indicating that approval of a Bitcoin spot ETF could lead to a substantial influx of “$150 to $200 billion” into Bitcoin investment products over the next three years.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | |
| Sentiment | positive |
| Relevance Score | 10 |
| People | Martin Bednall, Steven Schoenfield, Larry Fink |
| Companies | Grayscale Bitcoin Trust, BlackRock, FOX News, U.S. Securities and Exchange Commission (SEC), Jacobi Asset |
| Currencies | Ethereum, Bitcoin |
| Securities | None |
