According to Finbold, asset management giant BlackRock’s record for ETF approval by the U.S. Securities and Exchange Commission (SEC) is 575-1. That is, the SEC has approved 575 BlackRock ETFs, and only rejected one in October 2014.
BlackRock submitted a spot Bitcoin ETF application to the U.S. SEC on June 16.
Under the U.S. Securities Act of 1933 and the Securities Exchange Act of 1934, the SEC must take action within 45 days of receiving registration statements and rule change proposals, either approving them or initiating further review processes.
This deadline can be extended in certain circumstances. For example, if the SEC requires more information, or there are other considerations, this deadline can be extended to up to 240 days. So, while an initial decision may be made within 45 days, a complete review and final decision may take longer.
