BlackRock Edges Closer To Bitcoin ETF Filing: Bullish Impact On BTC’s Price?

2023-6-15 17:10

Per a Coindesk report, BlackRock, the world’s largest asset manager, is reportedly getting closer to filing an application for a Bitcoin (BTC) Exchange-Traded Fund (ETF) in the United States. 

According to an anonymous source familiar with the matter, the company will use Coinbase (COIN) Custody for the ETF and the cryptocurrency exchange’s spot market data for pricing.

Could BlackRock’s ETF Filing Push Bitcoin Higher?

This news has caused a stir in the cryptocurrency community, with many speculating that a Bitcoin Spot ETF from BlackRock could have a bullish impact on the digital asset’s price. 

An ETF is a type of investment vehicle that tracks the performance of an underlying asset, such as a stock, commodity, or in this case, Bitcoin. An ETF holds a portfolio of assets that reflects the composition of the underlying asset it is designed to track.

In the case of a BTC ETF, the fund would hold Bitcoin and track its price movements. Investors can buy and sell shares in the ETF, which would expose them to Bitcoin without having to purchase or hold the digital asset themselves directly.

The potential for a BTC ETF from BlackRock is significant for several reasons. Firstly, it would make investing in BTC easier for institutional investors. Many institutional investors hesitate to invest in Bitcoin due to regulatory concerns and a lack of infrastructure for holding and trading the digital asset. 

A Bitcoin ETF would provide a more accessible and regulated way for institutional investors to gain exposure to the largest cryptocurrency in the market.

Secondly, approving a BTC Spot ETF could increase demand for Bitcoin, potentially driving up its price. As more investors gain exposure to BTC through the ETF, the demand for the digital asset could increase, leading to a potential boost in its price.

On the other hand, Coinbase Custody is a service that provides secure storage for digital assets, while the company’s spot market data is used to determine Bitcoin’s price.

However, it is important to note that the Securities and Exchange Commission (SEC) has rejected every application for a spot BTC ETF in the past. The SEC has only approved Bitcoin futures ETFs for trading. Whether BlackRock’s application will pass under the current regulatory environment remains to be seen. 

BlackRock has not commented on the reports of its Bitcoin ETF application, and Coinbase has declined to comment.

Overall, the possibility of a BTC ETF from BlackRock is a significant development for the cryptocurrency industry. If approved, it could positively impact Bitcoin’s price and potentially provide the digital asset with the impetus it needs to surpass its nearest resistance level and break its current downtrend price action.

As of this writing, BTC has taken a significant impact and has dropped over to the $24,700 mark. However, it has rapidly conquered the $25,000 line, and it’s currently consolidating above this key level. 

Featured image from Unsplash, chart from TradingView.com

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etf blackrock btc filing bitcoin closer company

Источник: bitcoinist.com

etf blackrock → Результатов: 59


Should exchanges fear a Blackrock ETF?

Key Takeaways Blackrock is the biggest asset manager in the world and has filed for a spot Bitcoin ETF No guarantee it will be approved, and the SEC has rejected every spot ETF application to date Exchanges have been struggling mightily, with layoffs flooding the industry and lawsuits on the rise amid regulatory crackdown An […] The post Should exchanges fear a Blackrock ETF? appeared first on CoinJournal.

2023-6-20 13:52


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Bitcoin [BTC] ETF to passed by the end of the 2018 is “very unlikely”, says ex-ETF builder

During an interview with CNBC Crypto Trader, Mark Brady, an ex-ETF builder of Blackrock, stated that the cryptocurrency community would probably not see a Bitcoin [BTC] ETF by the end of this year. Brady also said that from the standpoint of mass retail acceptance, an ETF is very important to the cryptocurrency ecosystem. This is because […]

2018-8-4 11:45


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Bitcoin Price Analysis: Is this a Bullish Reversal or the Puppet Master at Play?

At last some excitement! Yesterday Bitcoin leapt nearly 12% in 24 hours but what’s behind the rally? Could it be the BlackRock and Coinbase news or is it purely fundamental? Market Overview What a rollercoaster ride! Earlier this week Financial News London reported that the world’s largest ETF provider, BlackRock, had cast its gaze to Bitcoin and other cryptocurrencies as potential investments but before the news even had the opportunity to impact cryptocurrency prices, BlackRock CEO, Read More The post Bitcoin Price Analysis: Is this a Bullish Reversal or the Puppet Master at Play? appeared first on Bitcoinist.com.

2018-7-20 05:00


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2018-7-16 20:06


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2018-7-16 19:14


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