Market experts disagree with Blackrock's application for approval of a Bitcoin-Spot ETFs: Is it accepted or rejected?
Market experts disagree with Blackrock's application for approval of a Bitcoin-Spot ETFs: Is it accepted or rejected?
market experts comment on Blackrock's application for approval of a Bitcoin spot ETFs; The opinions differ.
After the billion dollar assets administrator Blackrock submitted a Bitcoin Spot ETF application for approval, the crypto industry has now apparently found a new permanent topic. The old, the SEC/Ripple conflict, was lost in the past week by the court ruling. But you can also hope for the new topic that it will not be over very quickly, because the SEC has a maximum period of 240 days within which it has to decide on the ETF application-at least eight months.
Many prominent personalities are not convinced that the spot ETF will be approved. They emphasize the many obstacles set up by the supervisory authorities to increase the difficulty of the approval process for crypto-spot ETF.
In an interview with Coindesk, experts talked about what the market should expect from the US stock exchange supervisory authorities in relation to the latest Bitcoin Spot ETF applications.
In conversation with Coindesk, Matt Hougan, Chief Investment Officer (CIO) at Bitwise Asset Management, said quite positively. Blackrock is a company that is too valuable to be able to reject such an application quickly. The market has to listen, says Hougan.
The CIO of Bitwise does not exaggerate when he emphasizes the importance of Blackrock, the currently largest asset manager in the world with a managed assets of more than $ 10 trillion.
In addition, Bernstein, a leading brokerage company, added that the position of the SEC for a spot bitcoin ETF can no longer be maintained for long. So the probability that it will be approved is quite high.
Why the application of Blackrock could be rejected
In the meantime, other experts such as Octavio Marenzi, CEO and co-founder of Opimas are still convinced that the ETF application will be unsuccessful. As Marenzi claimed, the SEC has already identified a large loophole in Blackrock's application:"" You have identified a store for the assets that the SEC himself said that he was working illegally ... I don't quite understand how Blackrock can do it. "
On the other hand, Stuart Barton, Chief Investment Officer Stuart Barton, who was involved in the submission of the 2x Bitcoin Strategy ETF (Bitx) by Volatility Shares, who was the first cogged crypto ETF in the USA, about the delay in the admission of Bitcoin Spot ETFs. Stuart Barton claimed;
"The reason for the delay is that the crypto exchanges are not regulated and it takes a long time for a stock exchange to be regulated. This is a multi-year process. This is a step before we get an ETF approval. There is no stock exchange that is being traded on Bitcoin that is regulated."
Despite the mixed feelings, Larry Fink, the CEO of Blackrock, has confirmed that Blackrock is willing to work with the regulatory authorities and hopes that his application will be approved.