🚀Get ready, BTC enthusiasts! Former BlackRock managing director Steven Schoenfield, now CEO of MarketVector Indexes, predicts that the U.S. SEC will approve a Spot Bitcoin ETF within three to six months. This exciting news was shared during a panel discussion on ETFs at CCData’s Digital Asset Summit in London.

🔍Schoenfield's estimate comes after the SEC's recent decision to delay verdicts on several pending ETF applications, deviating from their previous tactics. Instead of rejecting the whole list, they've asked for comments, which is a marginal but significant improvement in the dialogue.

💰BlackRock, a financial powerhouse managing $9.42 trillion in assets, is in a strong position to secure approval for a spot Bitcoin ETF through its pending application. The company has a remarkable track record of getting ETFs approved by the SEC, with a success rate of 575-1.

📈Schoenfield's company has conducted analyses suggesting that approving spot ETFs could lead to an inflow of $150 to $200 billion into Bitcoin investment products over three years. This influx of capital could potentially double or even triple the current assets under management (AUM) in Bitcoin products.

🏁However, Schoenfield anticipates that BlackRock may face significant competition in this space, as several other firms are deeply committed to tradable digital assets, some of which have closer ties to the crypto ecosystem. So, while BlackRock may strive to dominate the market, the race is far from over!