Steven Schoenfield, former BlackRock managing director and current CEO of MarketVector Indexes, predicted that the U.S. SEC will approve a Spot Bitcoin ETF within three to six months during a panel discussion on ETFs at CCData’s Digital Asset Summit in London. Schoenfield previously estimated approval would take nine to twelve months.The SEC’s recent decision to delay verdicts on several pending ETF applications and the Grayscale lawsuit, which the SEC lost, could mean that the SEC will have to allow the Grayscale Bitcoin Trust to be converted into an ETF. BlackRock, a financial powerhouse managing $9.42 trillion in assets, is in a strong position to secure approval for a spot Bitcoin ETF through its pending application.Martin Bednall, another ex-BlackRock director and now CEO of Jacobi Asset Management, expressed confidence in BlackRock’s ability to leverage its brand strength and resources, potentially giving it a first-mover advantage if the SEC begins approving spot Bitcoin ETFs. Schoenfield noted that his company has conducted analyses suggesting that approving spot ETFs could lead to an inflow of $150 to $200 billion into Bitcoin investment products over three years.However, Schoenfield offered a more measured perspective to Bednall’s suggestion. He emphasized that while BlackRock may strive to dominate the market, several other firms are deeply committed to tradable digital assets, some of which have closer ties to the crypto ecosystem. He anticipates that BlackRock may face significant competition in this space.

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Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	10
People	Martin Bednall, Steven Schoenfield, Larry Fink
Companies	SEC, BlackRock, Grayscale, Jacobi Asset Management, MarketVector Indexes
Currencies	Ethereum, Bitcoin, British Pound, US Dollar
Securities	None