- Bitcoin, Ethereum, and XRP could soar following the ETF approvals.
- BTC surged in June after BlackRock announced its spot Bitcoin ETF filing.
- Steven Schoenfield predicted the SEC would approve multiple ETFs within 3 to 6 months.
In an earlier post, Coinedition reported that former BlackRock managing director Steven Schoenfield predicted that the U.S. Securities and Exchange Commission (SEC) would approve multiple spot Bitcoin Exchange Trust Fund (ETF) within three to six months. Users believe this development could cause Bitcoin, Ethereum, and XRP to soar significantly.
The report indicated that the SEC has varied its approach to ETF applications. Unlike in previous cases when the regulator would outrightly reject ETF applications, it has instead requested comments, something Schoenfield considers a significant improvement in the dialogue process.
Notably, Franklin Templeton, the leading funds manager with a portfolio valued at $1.5 trillion, filed for a spot ETF with the SEC last month. Templeton joins other applicants who followed BlackRock’s lead in June, including Fidelity, Invesco Galaxy, and WisdomTree. These applications, in addition to the lawmaker…
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