Steven Schoenfield, former chief executive of BlackRock, the world’s largest asset manager, spoke about spot Bitcoin (BTC) exchange-traded fund (ETF) applications.
Former BlackRock executive Steven Schoenfield attended the CCData Digital Asset Summit in London on October 3. On a panel about ETFs He made remarkable statements. US Securities and Exchange Commission (SEC) spot Bitcoin ETF applications coming soon 3 to 6 months between The former manager, who expressed that he could approve this The serious volume that approval will create also mentioned.
Spot ETF approval for Bitcoin investment products within three years $150 to $200 billion inflow Schoenfield stated that he believed that this amount of money flow could result in assets under current management. (AUM) its volume will double or triple he added to his statements.
By not rejecting all ETF applications at once. took a marginal step featured former executive, regulator’s investment firm Grayscale He also touched upon the case he lost against him.
At the end of the day, this loss to the SEC Grayscale Bitcoin Trust (GBTC) He argued that converting it into an ETF would result in:
They asked for comments rather than rejecting the entire list outright, which is a marginal but significant improvement in practice. There is also the Grayscale case that the SEC lost, meaning they will likely have to allow the Grayscale Bitcoin Trust to be converted into an ETF.
The SEC announced last week that all spot Bitcoin ETF applications, including BlackRock’s application, postponed the final decision date he explained.