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A large part of the recent leg of Bitcoin’s rally started after BlackRock (NYSE:) filed to list a spot exchange-traded fund (ETF) on June 15. Several applications by other firms have been rejected by the United States Securities and Exchange Commission in the past. However, BlackRock’s filing has a 50% possibility of getting approved, said Bloomberg senior ETF analyst Eric Balchunas.
Another bullish catalyst for the cryptocurrency markets could be a filing by asset manager Fidelity Investments to launch its Bitcoin (BTC) spot ETF. CoinShares chief strategy officer Meltem Demirors said that firms managing $27 trillion of assets are “actively” pursuing efforts to allow their clients exposure in the crypto space.
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