BlackRock SEC Approval File at 576-1 Post-BTC ETF Nod — Is Ether ETF Next?
The world's largest asset manager, BlackRock, and 13 other institutional giants received approval from the United States Securities and Exchange Commission (SEC) on January 10 to launch their first Bitcoin exchange-traded fund (ETF) in the United States.
BlackRock's entry into the Bitcoin ETF race has given crypto fans a new sense of hope as the firm is the world's largest asset manager, with over $8 trillion in assets under management and an impeccable ETF certification record.
BlackRock has recorded 575 approvals for an ETF rejection in its history, and with spot BTC approvals, the record is now 576-1. This was one of the key reasons analysts and market analysts were convinced that it would be possible even before the SEC decision.
Blackrock introducing their ETF app pic.twitter.com/rJNPCXwr0v
— rwlk (@sherlock_hodles) January 10, 2024
Following the approval of spot BTC ETFs, the crypto community has begun speculating about the possible approval of an Ether (ETH) ETF in May.
Related: SEC Seeks Comments on Fidelity's Spot Ether ETF Application
BlackRock Launches Space Ether ETF in November 2023 The SEC's deadline to approve or deny the application is May 23, and many crypto supporters believe the space ether ETF may be approved.
Blackrock is undefeated. Looks like August for the $ETH ETF. pic.twitter.com/G2sbA0Mysl
— fewture (@fewture) January 11, 2024
Bloomberg senior analyst Eric Balchunas, who gave BTC ETF applications a 95% chance of approval in the lead-up to the SEC decision on January 10, believes there is a 70% chance of approval for the Ether ETF in May.
A new deadline for suppression has fallen
May 23rd is the deadline for a decision on VanEck's spot ETH ETF pic.twitter.com/dgi5EVbPeQ
— Will (@WClementeIII) January 10, 2024
The price of Ether rose 10% the day BTC ETF was approved. However, BTC traded in the same range throughout the day and temporarily dipped below $46,000 before recovering.
Magazine: BlackRock Meets SEC Over ETF, Binance's New Era Begins, and SBF Wins Divestment Bid: Hodler Digest, November 19–25
