Bitcoin ETF race begins: Has institutional trust returned to crypto?

Prashant Jha

Jul 04, 2023

Seven institutional firms have filed for a spot Bitcoin ETF in the U.S., including the world’s largest asset manager BlackRock, driving optimism and higher Bitcoin prices.

With the Bitcoin BTC halving event less than a year away, several financial giants have filed applications for a spot Bitcoin exchange-traded fund (ETF) — a scenario last seen before the 2020 to 2021 bull run. 

Institutional interest in the sector dried up after major crypto giants such as FTX collapsed amid a prolonged crypto winter in 2022. Bitcoin and many other cryptocurrencies traded largely sideways as several crypto exchanges fell under regulatory scrutiny.

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