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BlackRock Has 50% Chance of SEC Approval for Spot Bitcoin ETF, Says Bloomberg Strategist

June 28 (Cointime) - BlackRock's recent application for a spot bitcoin ETF has a 50% chance of being approved by the SEC, according to Bloomberg's senior ETF strategist Eric Balchunas.

This is due to the likelihood of Grayscale winning its lawsuit against the SEC, which would put pressure on the agency to authorize a spot bitcoin ETF from a "trusted 'adult' TradFi" company like BlackRock.

The SEC has previously rejected all spot market bitcoin ETFs due to concerns over market manipulation. If approved, BlackRock's ETF would be the first of its kind.

BlackRock Bitcoin ETF SEC Grayscale
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    1. As of July 25, BlackRock IBIT held more than 338,000 bitcoins, an increase of more than 1,092 bitcoins from the previous day.

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