Investment company BlackRock has recently applied to the US Securities and Exchange Commission (SEC) to launch a Bitcoin-ETF spot crypto fund.
Its CEO Larry Fink is confident that digital currency will be able to surpass the US dollar and other fiat currencies in terms of capitalization.
Additionally, Bloomberg strategist James Seyffart anticipates a price of $100,000 upon receiving approval in the US. Institutional investors now have an advantage of being able to test this asset directly without fear of repercussion.
Eric Balchunas, another Bloomberg analyst, also believes BlackRock has a good chance of success. With chances of approval estimated as 50%, investors are getting ready for a possible increase in the near future.
