币界网报道：BlackRock's spot Bitcoin ETF application has sparked intense market speculation, with analysts debating whether the SEC will approve the first such product in the U.S. The world's largest asset manager refiled its application in June after the SEC initially rejected it, this time including a surveillance-sharing agreement with Coinbase to address regulatory concerns about market manipulation. This move has been interpreted by some as a strategic shift that could increase approval odds, given Coinbase's role in Bitcoin's price discovery. Meanwhile, competitors like Fidelity and Invesco have also submitted similar applications, creating a race to launch the first spot Bitcoin ETF. Industry observers note that BlackRock's involvement lends credibility to the crypto space, as the firm has a near-perfect ETF approval track record of 575-1. The potential approval could open Bitcoin to a new wave of institutional investors, with estimates suggesting it might attract $50-$100 billion in inflows. However, skeptics point to the SEC's historical resistance to crypto products and Chair Gary Gensler's cautious stance. The decision timeline remains uncertain, with analysts predicting possible approval by early 2024 if the SEC deems the new applications sufficiently address its concerns about investor protection and market integrity.