LATEST: Asset Management Giant BlackRock’s Confidence Grows in SEC Approving Bitcoin ETF by January 2024

BlackRock, the world’s largest asset manager with $8.5 trillion in assets, is growing increasingly confident that the U.S. Securities and Exchange Commission (SEC) will approve its application for a spot bitcoin exchange-traded fund (ETF) by January 2024. An ETF approval could potentially bring $200 billion into bitcoin markets and drive its price to $330,000, according to experts. The SEC is expected to decide on twelve ETFs by November 17, with analysts predicting a high likelihood of approval. BlackRock has also registered an iShares Ethereum Trust, indicating a move toward a spot ethereum ETF.

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