BlackRock's Bitcoin ETF Filing is a 'Moment of Validation'
With the market maturing, accredited investors are demanding more pathways in the crypto industry. Major institutions have been chasing an approved Bitcoin spot ETF, but the SEC has been dismissive in the past. Now, brokerage firm Bernstein feels that the probability of the SEC approving the spot vehicle is fairly high at this stage. The SEC has time and again rejected spot BTC ETF s in the past indicating that they do not meet sec urity standards to prevent fraudulent practices. Right now, exchanges are not leaving any stone unturned. A day back, CBOE Global Markets filed amended applications revealing its tie-up with Coinbase on market surveillance. Grayscale CEO Michael Sonnenshein , acknowledged the efforts of BlackRock, Fidelity , and other asset managers for venturing into the crypto industry. Commenting on BlackRock’s decision to file for a spot in Bitcoin ETF , Sonnenshein said in a recent CNBC interview, “It’s [it is] a moment of validation. To ...