BlackRock is expecting approval for its proposed Bitcoin spot ETF on the 10th of January.
The chances of rejection of the ETFs dropped from 10% to 5%, per an analyst.
The coming week might turn out to be historic for cryptocurrencies, as the U.S. Securities and Exchange Commission (SEC) was set to pronounce a decision on the spot Bitcoin [BTC] exchange-traded funds (ETFs) applications.
BlackRock expects approval on this day
Amidst the hype and anticipation, BlackRock, the world’s largest asset manager, remained optimistic about its chances. According to a report by Fox Business, the TradFi giant was expecting an approval on the 10th of January.
BlackRock submitted a request to the SEC for an ETF tied to the spot price of Bitcoin in June last year, encouraging other TradFi firms to drop their hat in the ring as well.
The filing by a company, with more than $9 trillion in assets under management (AUM), has been widely seen as the best indication of growing institutional interest in Bit
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