• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Ripple CTO Steps Down, Accepts New Offer – What You Need To Know
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Ripple CTO Steps Down, Accepts New Offer – What You Need To Know
Bitcoin Spot ETF

Tick-Tock On Spot Bitcoin ETF: 3 To 6 Months Until US Approval, Claims Ex-BlackRock Exec

Samuel Edyme
by Samuel Edyme
1 year ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Former managing directors at BlackRock, the world’s largest asset manager, have weighed in on the approval of a spot Bitcoin exchange-traded fund (ETF) in the US, suggesting that the process is now more a question of ‘when’ rather than ‘if.’

During a panel discussion on ETFs at CCData’s Digital Asset Summit in London, former BlackRock managing director Steven Schoenfield, presently at the helm of MarketVector Indexes, postulated a timeline for the US Securities and Exchange Commission’s (SEC) approval of a spot Bitcoin ETF.

His prognosis? A mere “three to six months.”

Former BlackRock managing director Steven Schoenfield gives the U.S. SEC “three to six months” before it approves a Bitcoin spot ETF and believes spot ETF approval may result in a “$150 to $200 billion inflow” into Bitcoin investment products over three years. Decrypt reported.…

— Wu Blockchain (@WuBlockchain) October 4, 2023

Shifting Tides In The Bitcoin ETF Landscape

This relatively short timeframe marks a noteworthy shift in Schoenfield’s outlook. Previously, the ex-BlackRock Executive projected a longer “nine to twelve months” window. The change in perspective can be attributed to the SEC’s recent decisions.

Related Reading: Bitcoin ETF Showdown: Bitwise Challenges The SEC’s Stance With These Academic Insights

Rather than outright rejecting spot Bitcoin ETF applications, as has been customary in the past, Shoenfield stated the regulator is now soliciting comments from the industry, suggesting a more collaborative approach, which the MarketVector CEO called a “significant improvement in the dialogue.”

Schoenfield noted another significant factor influencing the potential spot Bitcoin ETF approval: the Grayscale lawsuit. The SEC’s defeat in this legal skirmish implies a greater likelihood of Grayscale’s Bitcoin Trust transitioning into an ETF format.

With its colossal $9.42 trillion AUM, BlackRock appears to be a frontrunner in the race for a spot in Bitcoin ETF approval. The firm boasts a noteworthy track record, with a success rate of 575-1 for SEC ETF approvals.

Fun fact: BlackRock’s record of getting ETFs approved by the SEC is 575-1. That’s another reason this is so big, they don’t play around. https://t.co/f7YIhGRmLf

— Eric Balchunas (@EricBalchunas) June 16, 2023

During the same summit, Martin Bednall, another ex-BlackRock director and now CEO of Jacobi Asset Management, opined that BlackRock’s industry stature—both in terms of branding and resources—could potentially grant it an edge in securing the spot Bitcoin ETF approval.

A Competitive Arena: BlackRock’s Position In The Crypto Domain

Yet, it’s not all smooth sailing for BlackRock. Schoenfield offered a counter perspective, highlighting the intense competition awaiting the financial behemoth in the realm of tradable digital assets. Schoenfield pointed out, predicting a robust challenge for the asset management giant:

There’s a good half dozen, maybe eight or nine, other firms deeply committed to tradable digital assets. They’ve all got applications in and some are actually much closer to the crypto ecosystem than BlackRock. So I think Blackrock will be in for quite a fight.

Furthermore, Schoenfield underlined the potentially massive impact of a spot Bitcoin ETF approval on the crypto market. His firm’s calculations project a roughly “$150 to $200 billion inflow” into Bitcoin investment vehicles over the next three years.

Related Reading: Trillion-Dollar Fund Manager Joins The Spot Bitcoin ETF Race With New Filing

According to Schoenfield, such an inflow could dramatically amplify the assets under management for Bitcoin products.

Bitcoin (BTC) price chart on TradingView amid spot Bitcoin ETF news
Bitcoin (BTC) price is moving sideways on the 4-hour chart. Source: BTC/USDT on TradingView.com

Featured image from Shutterstock, Chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Samuel Edyme

Samuel Edyme

Follow

Edyme is a writer, a content writer that specialises in writing about the crypto realm. Asides Bitcoinist and NewsBTC, Edyme's writing has been featured in top sites such as Blockchain.News, CoinMonk, Blockchain Reporter, Bitcoin Insider among others.

Full Profile

Related Posts

Bitcoin

Bitcoin Beyond Money: It Is A Remarkable Achievement In Cryptography – Here’s Why

13 minutes ago
Bitcoin Mining

Bitcoin Mining Difficulty To Rise For 7th Straight Adjustment Wednesday

12 hours ago
bitcoin

Tether Stacks More Bitcoin With Fresh 8,888 BTC Acquisition Worth $1 Billion

13 hours ago
Bitcoin news

Bitcoin Core Vs Knots Is Old News — Satoshi Fought The Same War 15 Years Ago

20 hours ago
Bitcoin Spot Market Regains Momentum On Binance: A Shift In Investor Behavior

Bitcoin Spot Market Regains Momentum On Binance: A Shift In Investor Behavior

1 day ago
Bitcoin

Bitcoin Netflow On Binance Turns Negative As Investors Pull Back – Is Supply Drying Up?

1 day ago

Premium Sponsors

Press Releases

  • най-добрите криптовалути

    Най-добрите криптовалути за...

    10 hours ago
  • As the Tapzi Fundraiser Continues to Generate Buzz, Could It Be One of This Year’s Best Crypto Presales?

    As the Tapzi Fundraiser Continues to Generate Buzz, Could...

    12 hours ago
  • 距離上線僅剩3周:Snorter代幣ICO融資突破 415...

    2 days ago
  • 上線倒計時:僅剩25天可搶購 Snorter Bot 代幣

    6 days ago
  • 加密錢包掀起發幣熱潮 Best Wallet...

    1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.