According to an investment manager, the Securities and Exchange Commission (SEC) is expected to approve all bitcoin exchange-traded fund (ETF) applications within the next three to six months. The investment manager anticipates that once the SEC approves the first bitcoin ETF, it will establish a precedent that paves the way for other applications to be accepted. This news comes amidst increasing interest from institutional investors in gaining exposure to bitcoin through regulated investment vehicles.
Additionally, a former managing director at BlackRock, a major asset management firm, has stated that the SEC is likely to approve multiple spot bitcoin ETFs at the same time. This suggests that the regulatory body may take a more comprehensive approach to approving these investment products. The former director also believes that the approval will occur all at once instead of staggering the decisions, indicating a significant shift in the ETF landscape.
These developments come as insiders at BlackRock have dropped hints about the company’s plans regarding cryptocurrencies. The firm is reportedly exploring various ways to engage with digital assets and create investment products. If BlackRock decides to launch a bitcoin ETF, it could potentially bring billions of dollars into the market, further legitimizing and mainstreaming the cryptocurrency. This, combined with the expected SEC approvals, could mark a turning point for bitcoin as it gains greater acceptance among traditional financial institutions and investors.
