Former BlackRock executives believe that the US Securities and Exchange Commission (SEC) has no choice but to approve Bitcoin exchange-traded funds (ETFs). The executives argue that the institutional demand for the crypto asset market is strong, with several large investment firms committed to it. Despite initial predictions, the timeline for approval has shifted due to the SEC requesting comments on applications instead of rejecting them outright. BlackRock, although favored by one of the executives, may face tough competition. Analysts also note a positive market trend with a net inflow of funds into crypto funds.

AI Sentiment: Positive