BlackRock's Bitcoin ETF Approval Prospects Remain Uncertain Amidst Speculation.
QCP Capital, a trading firm, has warned that the prospects of a spot price exchange-traded fund (ETF) for Bitcoin in the US remain unlikely due to the current makeup of the Securities and Exchange Commission (SEC). The world's largest asset manager, BlackRock, has applied to list a US spot Bitcoin ETF, but all such applications have been rejected so far by the SEC. QCP says that while institutional involvement in the Bitcoin space is destined to increase, the current SEC Chair, Gary Gensler, means that spot ETFs getting the go-ahead remains unlikely in the near-term.