Part 6/16:
On the question of who will secure the first Bitcoin ETF license, the expert suggested that, historically, early applicants like VanEck with applications dating back to late 2020 deserved credit for their pioneering efforts. He anticipates that regulators prefer to approve multiple ETFs together to avoid unfair advantages, rather than awarding the first license to a single leader like BlackRock.
He feels that regulators are being cautious and deliberate, scrutinizing applications carefully, but hints at a shift toward acceptance — a viewpoint supported by increasing dialogue and involvement of institutional giants. Still, the expert noted that, compared to traditional ETFs, Bitcoin’s unique status as a non-category asset makes classification complex, further delaying approvals.