BlackRocks Bitcoin ETF Approval Elevates Grayscales Attractiveness

By Lola Coin Jun 28, 202358Views

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Eric Balchunas, a senior ETF analyst at Bloomberg, believes that there is a 50% chance that BlackRock’s Bitcoin exchange-traded fund (ETF) will be approved. This has the potential to increase Grayscale’s chances of winning its appeal against the US Securities and Exchange Commission (SEC), which rejected its ETF application in June. Elliott Stein, a senior litigation analyst for Bloomberg Intelligence, rates Grayscale’s likelihood of success at 70%. Balchunas speculates that the SEC may be more inclined to approve BlackRock’s application due to the company’s reputation and status in traditional finance (TradFi). This could be seen as a way for the SEC to “save face.”

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