According to Martin Bednall, CEO of Jacobi Asset Management and former managing director of BlackRock, the US Securities and Exchange Commission (SEC) has hinted at approving all bitcoin exchange-traded fund (ETF) applications at once to prevent first-mover advantage. has.
Bednall said BlackRock, a company awaiting SEC approval, would not move forward with a bitcoin ETF application without awaiting approval.
Bednall and Steven Schoenfeld, CEO of VanEck-owned MarketVector Indexes, agreed that the SEC is likely to approve spot bitcoin ETFs sooner than previously thought, which would lead to a large influx of investor funds and a “hugely positive” impact on the cryptocurrency market.
