In an optimistic forecast, BlackRock (NYSE:BLK), the world’s largest asset manager, expects the U.S. Securities and Exchange Commission (SEC) to greenlight its spot Bitcoin exchange-traded fund (ETF) application by January 2024.
What Happened: FOX Business correspondent Charles Gasparino reported that BlackRock, overseeing $8.5 trillion worth of assets, is increasingly hopeful of the impending approval, The Street reported.
A former BlackRock manager suggested in October that the approval could channel $200 billion into Bitcoin (CRYPTO: BTC) markets, potentially propelling the top cryptocurrency’s price to $330,000.
Scoop: @BlackRock growing increasingly confident @SECGov will approve its BTC ETF by January, sources tell @FoxBusiness more now w @LizClaman — Charles Gasparino (@CGasparino) November 9, 2023
See Also: ‘Every Dog Has Its Day’: Crypto Analyst Predicts Dogecoin To ...