The Supporters Assembly Vice-President has been encouraged by the early intentions of Mr Green and hopes achieving a CVA could set the Light Blues on a positive path.
He said: "It's been pretty encouraging and there have been a lot of promises made. Mr Green doesn't seem to have been put off by the failed appeal at the SFA and that's good.
"He's started to name some of the parties involved and said that the club is aiming for the Champions League and that can only benefit Rangers and the supporters.
"That's where we all want to be and while it's a long way off at the moment you watch the final at the weekend and you know that's the competition you want to be involved in.
"In the short term the CVA and the transfer ban are the two things that spring to mind that are most important.
"I think everyone is pretty hopeful on the CVA with the two major obstacles being HMRC and Ticketus, but if we can get over that it really does shine a light for the future."
Blyth was part of a group of hundreds of Rangers fans who were involved in the sponsored 1872 Walk at the weekend and was hugely impressed by the support once again.
He said: "It's been a continued effort from the fans since the club went in to administration back in February at so many different events.
"It's been all across the country in Scotland and beyond too. The guys in Northern Ireland, in America and in Australia have raised a lot of money, it's been faultless.
"It shows the passion that the fans have for the club and you only have to look at the money that has been coming in to the account from all over the world."
See more from Blyth and the 1872 walk on RangersTV tonight.