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Former BlackRock Exec Foresees U.S. Bitcoin ETF Approval Within 3-6 Months

A former executive from BlackRock, the globe’s largest asset manager, has speculated that the U.S. could greenlight a Bitcoin ETF within a timeframe of three to six months. The comments were made during a recent online panel discussion organized by To The Moon Markets, which delved into various issues concerning digital assets and market trends.

The ex-BlackRock authority touched upon the stagnant state of digital asset regulation in the United States, observing that most regulatory agencies haven’t significantly revised their stances since 2017. He indicated that to date, regulators haven’t encountered a “compelling reason” to approve a cryptocurrency ETF.

However, the landscape may be changing. The former executive suggested that while the Securities and Exchange Commission (SEC) is unlikely to endorse a Bitcoin ETF this year, prospects could shift favorably in the next half-year, especially if the regulatory body takes the time to earnestly evaluate the potential benefits. He cited the successful roll-out of Bakkt as indicative of the growing institutional interest in digital assets.

This commentary comes amid a backdrop of varying opinions within the industry. Some experts assert that the most progress we can expect this year is the SEC filing an application for a crypto ETF before 2021 begins, thus we remain in a realm of ‘estimates’ regarding actual approval.

The former BlackRock executive’s predictions add another layer to the ongoing debate about the future of crypto ETFs in the U.S., underscoring the evolving institutional sentiment towards digital assets.

Sentiment: Positive

 

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