{"id":8011,"date":"2023-06-19T20:12:04","date_gmt":"2023-06-19T20:12:04","guid":{"rendered":"https:\/\/www.bitrabo.com\/community\/rumors-of-imminent-approval-swirl-around-blackrocks-bitcoin-etf\/"},"modified":"2023-06-19T20:12:53","modified_gmt":"2023-06-19T20:12:53","slug":"rumors-of-imminent-approval-swirl-around-blackrocks-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/rumors-of-imminent-approval-swirl-around-blackrocks-bitcoin-etf\/","title":{"rendered":"Rumors Of Imminent Approval Swirl Around BlackRock&#8217;s Bitcoin ETF"},"content":{"rendered":"\n<div>\n<p>David Bailey, a prominent figure in the cryptocurrency industry, has suggested that the US Securities and Exchange Commission (SEC) may soon approve BlackRock&#8217;s Bitcoin (BTC) Exchange-Traded Fund (ETF), despite previous rejections of similar proposals by other firms.<\/p>\n<p>Bailey, who is the CEO of BTC Inc. and a board member at the University of Alabama, believes that BlackRock&#8217;s entry into the Bitcoin ETF market could help sway regulatory acceptance in favor of the cryptocurrency.<\/p>\n<p>David Bailey&#8217;s comments are based on BlackRock&#8217;s filing with the SEC on June 15th, which hints at the potential approval of a BTC ETF.<\/p>\n<p>If approved, the ETF would allow investors to gain exposure to Bitcoin without directly owning the cryptocurrency, which could have a significant impact on BTC&#8217;s price.<\/p>\n<h2>Could BlackRock&#8217;s Bitcoin ETF Gain Approval In Record Time?<\/h2>\n<p>The SEC&#8217;s approval process for ETFs is typically long and complex. The agency evaluates proposals to ensure compliance with laws and regulations and to safeguard the interests of investors.<\/p>\n<p>Historically, the SEC has taken several months to review and approve Bitcoin ETF proposals, primarily due to concerns about fraud and market manipulation in the cryptocurrency market.<\/p>\n<p>Past Bitcoin ETF proposals have been rejected by the SEC due to worries about market volatility, liquidity, and the potential for fraud.<\/p>\n<p>However, recent developments such as increased institutional adoption of Bitcoin have led experts to speculate that the SEC may be more open to approving a Bitcoin ETF in the near future.<\/p>\n<p>According to Bailey, the involvement of BlackRock, one of the world&#8217;s largest asset managers, in the proposed Bitcoin ETF could be a game changer. He suggests that BlackRock&#8217;s reputation and influence in the financial industry could expedite regulatory approval in a matter of &#8220;days to weeks&#8221;.<\/p>\n<p>It is important to note that the SEC has not provided an official timeline for approving BlackRock&#8217;s Bitcoin ETF or any other pending ETF proposals. The agency&#8217;s approval process is generally opaque, and it can take months or even years for a proposal to be approved, if at all.<\/p>\n<figure style=\"width: 1814px\" class=\"wp-caption aligncenter\">\n        <figcaption class=\"wp-caption-text\">BTC&#8217;s uptrend on the 1-day chart. Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/chart\/wTcLONum\/\">BTCUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n<p>Featured image from Unsplash, chart from TradingView.com<\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>David Bailey, a prominent figure in the cryptocurrency industry, has suggested that the US Securities and Exchange Commission (SEC) may soon approve BlackRock&#8217;s Bitcoin (BTC) Exchange-Traded Fund (ETF), despite previous rejections of similar proposals by other firms. Bailey, who is the CEO of BTC Inc. and a board member at the University of Alabama, believes [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8013,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Rumors Of Imminent Approval Swirl Around BlackRock's Bitcoin ETF - Bitrabo","description":"David Bailey, a prominent figure in the cryptocurrency industry, has suggested that the US Securities and Exchange Commission (SEC) may soon approve BlackRock's"},"footnotes":""},"categories":[316],"tags":[1246,448,1989,1923,2044,1612,2045],"class_list":["post-8011","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-approval","tag-bitcoin","tag-blackrocks","tag-etf","tag-imminent","tag-rumors","tag-swirl"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/8011","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=8011"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/8011\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/8013"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=8011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=8011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=8011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}