Bloomberg Intelligence ETF analyst James Seyffart recently discussed various recent developments in the crypto ecosystem, including the potential approval of BlackRock’s Spot Bitcoin ETF by the SEC and the impact of the recent XRP decision in the Ripple case. Seyffart used the phrase “50-50” when discussing the ongoing debate about whether the SEC will approve BlackRock’s Spot Bitcoin ETF.
Will BlackRock’s ETF Application Receive Approval from the SEC?
Despite numerous rejections of Spot Bitcoin ETFs and negative statements from SEC officials over the years, BlackRock’s application for a Spot Bitcoin ETF has raised expectations that the SEC may now give the green light to Spot Bitcoin ETFs in the crypto ecosystem. However, after the SEC deemed ETF applications insufficient, many companies, including BlackRock, had to update their applications. Most recently, the SEC accepted BlackRock’s ETF application for review.
While the debate over whether the SEC will approve Spot Bitcoin ETFs continues, Bloomberg Intelligence ETF analyst James Seyffart evaluated various significant developments in the crypto ecosystem, including the current status of BlackRock’s ETF application.
Analysis of the Current Situation by Bloomberg ETF Analyst
In a recent interview, Bloomberg Intelligence ETF analyst James Seyffart discussed various recent developments in the crypto ecosystem, including the potential approval of BlackRock’s Spot Bitcoin ETF by the U.S. Securities and Exchange Commission and the potential impact of the XRP decision in the Ripple case.
After BlackRock updated its application, Seyffart used the phrase “50-50” when evaluating the chances of the SEC approving or rejecting the Spot Bitcoin ETF. The analyst also provided an assessment of the SEC-Ripple case.
Bloomberg Intelligence ETF analyst James Seyffart agreed with Galaxy CEO Mike Novogratz that Judge Torres’ decision was a significant win for Ripple. However, it was emphasized that despite the judge’s decision on XRP, the company may still be under the SEC’s radar, and the process for Ripple may not yet be concluded, considering possible new steps by the U.S. Securities and Exchange Commission.
