Investment Manager Expects SEC to Approve All Bitcoin ETF Applications in 3-6 Months
Steven Schoenfeld, former head of International Equity Product Strategy at Barclays Global Investors (now Blackrock), expects the U.S. Securities and Exchange Commission (SEC) to approve all spot bitcoin exchange-traded fund (ETF) applications in three to six months. He also anticipates that the greenlighting of spot bitcoin and ethereum ETFs has the potential to inject between $150 billion and $200 billion of capital into these investment products.
Spot Bitcoin ETFs Could Be Approved in 3-6 Months
Steven Schoenfeld, CEO of Marketvector Indexes, shared his view on the potential for the U.S. Securities and Exchange Commission (SEC) to approve spot bitcoin exchange-traded funds (ETFs) during a panel discussion at the Ccdata Digital Asset Summit on Tuesday.
Schoenfeld is a 36-year veteran of the investment management industry, having served in senior fiduciary positions at Northern Trust. He was also Managing Director and Head of International Equity Product Strategy at Barclays Global Investors (now Blackrock), where he managed more than $70 billion in developed and emerging market stock index funds and ETFs. Previously, he also led the team at the IFC/World Bank which developed the first investable Emerging Market indexes.
Regarding the approval of spot bitcoin ETFs in the U.S., he predicted:
It’s very likely that all will be approved.
“The AUM potential could double or triple the current amount of AUM in current bitcoin products,” he added.
Regarding the SEC’s potential approval timeline for a spot bitcoin ETF, he remarked: “Two weeks ago I would have said nine to 12 months away.” However, he emphasized:
“For the first time, it was just last week, the SEC, instead of completely rejecting the whole list [of spot bitcoin ETF applications], they’ve actually asked for comments which is a marginal but significant improvement in the dialogue,” he opined.
“There’s also the Grayscale lawsuit which the SEC lost,
#BTC
Steven Schoenfeld, former head of International Equity Product Strategy at Barclays Global Investors (now Blackrock), expects the U.S. Securities and Exchange Commission (SEC) to approve all spot bitcoin exchange-traded fund (ETF) applications in three to six months. He also anticipates that the greenlighting of spot bitcoin and ethereum ETFs has the potential to inject between $150 billion and $200 billion of capital into these investment products.
Spot Bitcoin ETFs Could Be Approved in 3-6 Months
Steven Schoenfeld, CEO of Marketvector Indexes, shared his view on the potential for the U.S. Securities and Exchange Commission (SEC) to approve spot bitcoin exchange-traded funds (ETFs) during a panel discussion at the Ccdata Digital Asset Summit on Tuesday.
Schoenfeld is a 36-year veteran of the investment management industry, having served in senior fiduciary positions at Northern Trust. He was also Managing Director and Head of International Equity Product Strategy at Barclays Global Investors (now Blackrock), where he managed more than $70 billion in developed and emerging market stock index funds and ETFs. Previously, he also led the team at the IFC/World Bank which developed the first investable Emerging Market indexes.
Regarding the approval of spot bitcoin ETFs in the U.S., he predicted:
It’s very likely that all will be approved.
“The AUM potential could double or triple the current amount of AUM in current bitcoin products,” he added.
Regarding the SEC’s potential approval timeline for a spot bitcoin ETF, he remarked: “Two weeks ago I would have said nine to 12 months away.” However, he emphasized:
“For the first time, it was just last week, the SEC, instead of completely rejecting the whole list [of spot bitcoin ETF applications], they’ve actually asked for comments which is a marginal but significant improvement in the dialogue,” he opined.
“There’s also the Grayscale lawsuit which the SEC lost,
#BTC
