BlackRock ETF insider Scaramucci says approval will drive $31 million bitcoin price

BlackRock bitcoin trust investor Anthony Scaramucci predicts the firm’s spot bitcoin ETF will be approved soon and see major investment.

Anthony Scaramucci, a politician and entrepreneur whose firm SkyBridge Capital was an early investor in BlackRock’s bitcoin trust product, says that the Wall Street firm will likely receive approval to offer a spot bitcoin exchange-traded fund (ETF) in the next few months and that such a product will draw $100 billion in institutional investment.

“Political insider Anthony Scaramucci is predicting that the BlackRock bitcoin spot ETF approval happens in the first half of 2024 and when this happens, bitcoin’s price will explode,” Aaron Arnold of TheStreetCrypto reported in the video above.

Appearing on Aaron and Austin Arnold’s YouTube channel “Altcoin Daily,” Scaramucci detailed his relationship with BlackRock and his insider position in the firm’s bitcoin trust, which will give him an interest in the spot ETF product if and when it hits the market.

“I think I was the original investor in what is known as the ‘BlackRock bitcoin trust,’” Scaramucci said. “We wrote a $10 million check into that trust … when that gets converted into an ETF, SkyBridge will have a position in the BlackRock ETF.”

He went on to predict that approval will come in the “first half of 2024,” and that it is all but inevitable since Gary Gensler and the U.S. Securities and Exchange Commision (SEC) lost a “seminal” lawsuit with Grayscale over its own hopes to offer a spot bitcoin ETF.

He added that the might of BlackRock behind a spot bitcoin product is sure to drive parabolic rise in the market.

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