{"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\u2019s 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\u2019s entry into the Bitcoin ETF market could help sway regulatory acceptance in favor of the cryptocurrency.<\/p>\n<p>David Bailey\u2019s comments are based on BlackRock\u2019s 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\u2019s price.<\/p>\n<h2>Could BlackRock\u2019s Bitcoin ETF Gain Approval In Record Time?<\/h2>\n<p>The SEC\u2019s 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\u2019s largest asset managers, in the proposed Bitcoin ETF could be a game changer. He suggests that BlackRock\u2019s reputation and influence in the financial industry could expedite regulatory approval in a matter of \u201cdays to weeks\u201d.<\/p>\n<p>It is important to note that the SEC has not provided an official timeline for approving BlackRock\u2019s Bitcoin ETF or any other pending ETF proposals. The agency\u2019s 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\u2019s 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\u2019s 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}]}}