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BlackRock has ‘50% chance’ of getting spot Bitcoin ETF approved: Analyst

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Bloomberg’s senior ETF analyst EricBalchunas has tipped the probability of BlackRock getting its Bitcoin spot ETF approved at 50%, as Grayscale looks more likely to win its case against the SEC.

“Grayscale has a 70% chance of winning its lawsuit against the SEC over the company’s bid to convert the Grayscale Bitcoin Trust to a Bitcoin ETF, we believe.”

Stein added that Grayscale’s odds increased from 40% after the parties’ oral arguments reached completion because “all three judges on the panel appeared to side with Grayscale,” based on their “lines of questioning,” Stein said.Applications for Bitcoin ETFs have been a central focus point for the industry of late, with

 

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EricBalchunas BlackRock Balchunas’ prediction comes following an observation made by Elliott Stein, a senior litigation analyst for Bloomberg Intelligence, who now pegs the chances of Grayscale winning its case against the SEC at 70%.

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