Blackrock Has ‘50% Chance’ of Getting Spot Bitcoin ETF Approved: Analyst

– Bloomberg’s senior ETF analyst believes that BlackRock, one of the world’s largest asset management firms, has an equal chance of getting its Bitcoin exchange-traded fund (ETF) approved by the Securities and Exchange Commission (SEC). This comes as Grayscale, a digital asset management firm, appears to have a higher likelihood of winning its case against the SEC.

– BlackRock’s Bitcoin ETF proposal has been under review by the SEC for several months. The analyst suggests that the SEC’s decision on this matter could go either way, as there are arguments both for and against approving a Bitcoin ETF. BlackRock’s reputation and expertise in the financial industry may work in its favor, but concerns about market manipulation and investor protection remain key considerations for the SEC.

– On the other hand, Grayscale’s case against the SEC seems to be more promising. Grayscale is currently seeking to convert its popular Grayscale Bitcoin Trust (GBTC) into an ETF. The analyst believes that Grayscale has a higher chance of success due to its existing track record and the fact that it already operates a regulated product in the form of GBTC. If Grayscale wins its case, it could pave the way for other digital asset management firms to follow suit.

In summary, Bloomberg’s senior ETF analyst suggests that BlackRock has an even chance of getting its Bitcoin ETF approved by the SEC, while Grayscale appears to have a higher likelihood of winning its case. The decisions on these proposals will have significant implications for the cryptocurrency industry, as they could open up new avenues for institutional investors to access Bitcoin through regulated investment vehicles.