Their filing dates and decision deadlines are largely identical. Several other high-profile institutions including Fidelity and Ark Invest have followed suit with pending applications under review.

Have the Bitcoin ETF tea leaves adjusted, and BlackRock taken note? BlackRock’s 99.8% approval rate suggests so. The asset management giant has submitted 576 applications and all but one have been approved. His change of tune is remarkable as he previously denounced Bitcoin as an “index of money laundering” back in 2017.īlackRock’s track record of ETF application approvals is nothing short of superb. Bitcoin “has a differentiating value versus other asset classes, but more importantly, because it’s so international it’s going to transcend any one currency,” Fink said. Momentum kicked off on June 15 this year when BlackRock made waves by unexpectedly submitting a Bitcoin ETF application.īlackRock CEO Larry Fink has spoken favorably about Bitcoin since then. Let’s take a look at these developments and consider whether or not a spot ETF could revitalize Bitcoin and lift crypto out of its bear market.

Two substantial developments in the past three months have drastically improved the prospects of an approval. An uninformed observer may expect more of the same rejection, but this would be naive. There are currently 10 active applications from major institutions. Over the past 10 years, the SEC has denied each of the several dozen ensuing proposals, including over 30 just since 2021. Even crypto natives, dismayed by depressed markets and a decade of rejections by the Securities and Exchange Commission, are somehow brushing off the current state of affairs.īitcoin exchange-traded funds have been highly sought after since 2013 when the first application was submitted to the SEC and subsequently rejected. The general public has no idea this is about to happen. A Bitcoin ETF will likely be approved in the U.S.

Blackrock larry fink