Marathon CEO: Odds SEC Will Approve a Spot Bitcoin ETF Are Better Than Fifty-fifty

Fred Thiel, CEO of crypto mining company Marathon Digital, has said the US Securities and Exchange Commission (SEC) will approve a BTC-based spot ETF with a greater than 50% probability.

He has stated:

“I don’t know about giving out odds on something like this because the fact that Larry Fink and BlackRock are even trying to do this would say that they have a pretty high degree of certainty that they’ll get it through.”

Last June 15, BlackRock filed an application with the SEC to launch a BTC-based investment product. Valkyrie, Fidelity Investments, WisdomTree and Invesco filed their own applications shortly thereafter. However, the regulator rejected them all.

The companies then quickly sent updated proposals to the agency. Last July 14, the SEC accepted for consideration the applications from BlackRock, VanEck, Invesco, Fidelity Investments and WisdomTree.

Marathon’s CEO has noted that the approval of a Bitcoin ETF for one organization will likely result in a “green light” for the rest.