BlackRock, the world's largest asset manager, expects the US Securities and Exchange Commission (SEC) to approve its spot Bitcoin exchange-traded fund (ETF) application as early as Wednesday, Fox Business has reported.
According to the publication, BlackRock, which is one of the companies that has filed an application with the regulator to launch a crypto ETF, expects its application to be approved on Wednesday.
The firm filed updated 19b-4 applications for its spot Bitcoin ETF last Friday, along with Grayscale Investments, Valkyrie, ARK 21Shares and Invesco.
Notably, Cboe BZX also filed forms for VanEck, WisdomTree, Pando Asset AG and Franklin Templeton last week.
According to crypto advocates, the approval of spot Bitcoin ETFs could bring billions in funding to the cryptocurrency sector.