There are more and more important people in the crypto space who say that Bitcoin ETFs will be approved by the end of the year, regardless of what the SEC wants. Check out the latest reports about this below.
Bitcoin ETF approval
Here is a relevant tweet on X:
The SEC has no choice but to approve the #Bitcoin spot ETF.
They haven't appealed Grayscale's win, meaning they have no basis to reject ANY Bitcoin Spot ETF.
The final deadline for the initial application from ARK is set for January 10, 2024.
If the SEC were to approve any… pic.twitter.com/02awAUGL8U
— Crypto Rover (@rovercrc) October 14, 2023
During a panel discussion at the Digital Asset Summit in London, Martin Bednall, the CEO of Jacobi Asset Management and a former managing director at BlackRock, stated that the US regulators are likely to approve all spot Bitcoin exchange-traded fund (ETF) applications at once.
Bednall believes that the US Securities and Exchange Commission (SEC) has a strong incentive to approve these applications simultaneously, which would positively impact the market.
“I don’t think they’re going to want to give anybody a first-mover advantage, and I think that is because BlackRock is there in the mix and it’s a behemoth. They will put a lot of their power behind it in terms of sales and distribution to really make sure that they get the sort of go-to ETF, the default ETF.”
During a recent discussion, Steven Schoenfeld, the former managing director at Barclays Global Investors (now owned by BlackRock), stated that he believes the SEC’s approval of a Bitcoin ETF will happen sooner than he initially predicted.
According to him, he thought it would take nine to 12 months two weeks ago, but now he believes it’s more likely to happen within three to six months. Schoenfeld, who is currently the CEO of MarketVector Indexes, also noted positive signs that suggest a spot Bitcoin ETF may be approved in the US.
“It was just last week, the SEC, instead of completely rejecting the whole list, they’ve actually asked for comments, which is a marginal but significant improvement in the dialogue.”
