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Grayscale Bitcoin Trust

<div class="cryptonews">
 <p class="is-style-lead">Stephen Schoenfield and Martin Bednall, former senior <a rel="noopener noreferrer nofollow" title="executives" href="https://thebittimes.com/tag/executives.html">executives</a> at BlackRock, are optimistic that the Securities and Exchange Commission (SEC) has “no choice” but to&nbsp;approve&nbsp;multiple Bitcoin exchange-traded funds (ETFs) within the next 3-6 months.&nbsp;</p>
 <p>Despite initial predictions, Schoenfield changed his timeline due to the commission’s decision to request comments on applications instead of rejecting them outright.</p>
 <p>The Grayscale lawsuit victory also suggests that the SEC may have to allow the Grayscale Bitcoin Trust to be converted into an ETF.</p>
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 <p>Shenfield believes that all applications will be approved at once, similar to the case with Ethereum futures ETFs, to prevent market monopolization by large participants.&nbsp;</p>
 <p>However, Bednall disagrees and claims that “six to nine” large investment firms are committed to the crypto asset market, some of which have more efficient infrastructures offering new directions.&nbsp;</p>
 <p>BlackRock, despite being favored by Shenfield, may face tough competition.</p>
 <p>Both experts are confident that the approval of spot Bitcoin ETFs will attract $150 billion to $200 billion into the segment, as confirmed by the CoinShares&nbsp;report.&nbsp;</p>
 <p>Analysts report a net inflow of funds into crypto funds from Sep. 25 to Oct. 1, indicating a positive market trend.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/former-blackrock-executives-sec-has-no-choice-but-to-approve-bitcoin-etfs-tbt65233.html">https://thebittimes.com/former-blackrock-executives-sec-has-no-choice-but-to-approve-bitcoin-etfs-tbt65233.html</a></p>

Former BlackRock executives: SEC has no choice but to approve Bitcoin ETFs

TheBitTimes

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