June 27 (Cointime) - According to Bloomberg Intelligence Senior Legal Analyst Elliot Z. Stein, the company behind the world's largest Bitcoin fund has a 70% chance of winning its lawsuit against the U.S. Securities and Exchange Commission (SEC). Stein also assigns a 50% likelihood to a Bitcoin spot ETF being approved in the United States this year.

The optimistic outlook for Grayscale's lawsuit may benefit BlackRock, which filed for a spot ETF product last week. However, BlackRock's partnership with Coinbase for custody could undermine its application, according to Bloomberg's ETF analyst James Seyffart.