🔮 Former BlackRock director's prediction: Bitcoin Spot ETF will be approved in the next 3-6 months
- Steven Schoenfield, former BlackRock executive, predicts that the US Securities and Exchange Commission (SEC) will approve a Bitcoin Spot ETF in about 3 to 6 months.
- This prediction was made during a discussion about ETFs at the CCData Digital Assets Conference in London, where Schoenfield was joined by Martin Bednall, also a former BlackRock executive, now CEO of Jacobi Asset Management .
- Schoenfield said that the SEC's consultation rather than rejection of the entire list of pending ETF applications is a small but significant step forward. In addition, the Grayscale lawsuit that the SEC lost also caused them to allow the Grayscale Bitcoin Fund to convert into an ETF.
- BlackRock, with $9.42 trillion under management, has a strong possibility of winning approval for its Bitcoin Spot ETF application. However, Schoenfield believes that BlackRock will face major competition from other companies in this space.
- If Bitcoin Spot ETFs are approved, Schoenfield predicts that there will be an inflow of $150 to $200 billion into Bitcoin investment products over the next three years, doubling or tripling the value of assets under management ( AUM) currently in Bitcoin products.
- Steven Schoenfield, former BlackRock executive, predicts that the US Securities and Exchange Commission (SEC) will approve a Bitcoin Spot ETF in about 3 to 6 months.
- This prediction was made during a discussion about ETFs at the CCData Digital Assets Conference in London, where Schoenfield was joined by Martin Bednall, also a former BlackRock executive, now CEO of Jacobi Asset Management .
- Schoenfield said that the SEC's consultation rather than rejection of the entire list of pending ETF applications is a small but significant step forward. In addition, the Grayscale lawsuit that the SEC lost also caused them to allow the Grayscale Bitcoin Fund to convert into an ETF.
- BlackRock, with $9.42 trillion under management, has a strong possibility of winning approval for its Bitcoin Spot ETF application. However, Schoenfield believes that BlackRock will face major competition from other companies in this space.
- If Bitcoin Spot ETFs are approved, Schoenfield predicts that there will be an inflow of $150 to $200 billion into Bitcoin investment products over the next three years, doubling or tripling the value of assets under management ( AUM) currently in Bitcoin products.