Several industry experts interviewed by CoinDesk said that despite BlackRock’s application to launch a spot bitcoin BTC -0.43% ETF, don’t expect the product to flood out anytime soon.
Hedge fund manager James Koutoulas said that although the optimism of the cryptocurrency community is justified, he is not sure whether it will be approved.
“The ETF won’t be approved until the Coinbase lawsuit is resolved or put to rest because regulators want ETFs with strong credibility,” he said.
The vast majority of experts interviewed predicted that while it will take time, and possibly longer than the crypto community imagines, BlackRock could take the No. 1 spot in the ETF race.
“If anybody could get approved, it would have to be BlackRock because BlackRock has a record of only one application out of about 500 being permanently denied, and the U.S. government does so much business with BlackRock,” Koutoulas said. “.
