Loading… Loading… Loading…
In an optimistic forecast,BlackRock BLK , the worlds largest asset manager, expectsthe U.S. Securities and ExchangeCommission (SEC) to greenlight itsspot Bitcoin exchange-traded fund (ETF)application by January 2024.
What Happened: FOX Business correspondent Charles Gasparino reported that BlackRock, overseeing$8.5 trillion worth of assets,is increasingly hopeful of the impending approval, The Street reported.
A former BlackRock manager suggested in October that the approval could channel $200 billion into Bitcoin BTC/USD markets, potentially propelling the top cryptocurrencys price to $330,000.
Scoop: @BlackRock growing increasingly confident @SECGov will approve its BTC ETF by January, sources tell @FoxBusiness more now w @LizClaman Charles Gasparino (@CGasparino) November 9, 2023
See Also:Every Dog Has Its Day: Crypto Analyst Predicts Dogecoin To Skyrocket 140% By End Of 2023
Why It Matters: The SEC is slated to make decisionson twelve ETFs by Nov.17, settingan eight-day window for thedecision, according to leading analysts.Bloombergs James Seyffart and EricBalchunas, experts in the field, believe that the decisions are imminent and maintain a 90% probability of approval by January 10, 2024.
Separately,BlackRock registered an iShares EthereumTrust in Delaware on Thursday,a prelude toits application for a spotEthereum ETF. This move, a long-desired goal of crypto enthusiasts, could offer investors indirect exposure to the worldssecond-largest cryptocurrency on a traditionalstock exchange.
Read Next:Dogecoin To Dash Towards $1? This Crypto Analyst Hardly Thinks So But Sees DOGE Surging 170% In Short Term
Photo by 24K-Production on ShutterstockEngineered by Benzinga Neuro , Edited by Navdeep Yadav
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more. Loading… Loading… Loading…
