Analyst Predicts BlackRock’s Bitcoin ETF Has a 50% Chance of Approval

According to Bloomberg senior ETF analyst Eric Balchunas, investment management firm BlackRock has a 50% chance of getting its Bitcoin Exchange Traded Fund (ETF) approved by the Securities and Exchange Commission (SEC). This prediction comes as Grayscale’s chances of winning its case against the SEC are pegged at 70%. Balchunas suggests that the SEC may be more inclined to approve BlackRock’s ETF as a way to “save face” by allowing an ETF from a trusted traditional finance firm. The decision on Grayscale’s case is expected to be reached by August. Several other major financial institutions, including JPMorgan, Morgan Stanley, and Goldman Sachs, are also awaiting SEC approval for their Bitcoin ETF applications, which could expose the digital asset market to firms with a combined $27 trillion in assets under management.