Based

United

Bitcoin

Bold

<p>BlackRock is particularly interested in cryptocurrencies, as well as ETFs. A few months ago, the company launched an ETF in Europe. This time, they have set their sights on a Bitcoin ETF. There is no guarantee that this process will be successful, but it could have significant effects on the flagship cryptocurrency market.</p>



<h2 id="h-blackrock-files-for-a-bitcoin-etf-in-the-united-states">BlackRock files for a Bitcoin ETF in the United States</h2>



<p><a href="https://www.cointribune.com/crypto-blackrock-recidive-avec-le-lancement-dun-nouvel-etf/" target="_blank" rel="noreferrer noopener">BlackRock, the world’s largest asset management company</a>, wants a Bitcoin ETF. According to information leaked on Thursday, June 15, the company has reportedly filed an application with the SEC.</p><div class="my-4"><div class="ads ">
    </div>
</div>



<p><a href="https://bitcoinist.com/blackrock-edges-closer-to-bitcoin-etf-filing/" target="_blank" rel="noreferrer noopener">According to an anonymous source close to BlackRock</a>, Coinbase Custody, a cryptocurrency custody service offered by Coinbase, is expected to handle the conversion of cryptocurrencies held by the ETF.</p>



<p>For now, none of the parties involved in this project have confirmed these details. Even if confirmed by the companies involved, it is uncertain whether the process will be successful. The SEC has so far blocked all similar attempts.</p>



<p>Nevertheless, the introduction of a Bitcoin ETF by BlackRock carries significant implications. To understand this, we need to grasp the concept of an ETF and, more importantly, its implications.</p>



<p>ETF stands for “Exchange-Traded Fund.” It is essentially a fund that is traded on the stock exchange and whose price performance is linked to a specific asset.</p>



<p>The main objective of an ETF is to facilitate the acquisition of shares in a fund without the need to directly purchase the underlying asset. This rule applies fully to the Bitcoin Exchange-Traded Fund, and that’s where the stakes lie for investors.</p>



<h2 id="what-would-be-the-impact-of-a-bitcoin-etf-on-the-cryptocurrency-s-price">What would be the impact of a Bitcoin ETF on the cryptocurrency’s price?</h2>



<p>Based on the explanations given above, it follows that a Bitcoin ETF could be advantageous for users. Following its principle, a Bitcoin Exchange-Traded Fund would be the ideal way for institutional investors to access Bitcoin in a regulated manner.</p>



<p>Moreover, the Bitcoin Exchange-Traded Fund could attract many risk-averse institutional investors who have refrained from investing in Bitcoin due to regulatory concerns, among other reasons. This could lead to an increase in the demand for Bitcoin.</p>



<p>Through the dynamics of supply and demand, a rise in the price of BTC could occur. The ultimate question now is whether BlackRock’s application for a <a href="https://www.cointribune.com/etf-crypto-les-riches-en-raffolent-mais/" target="_blank" rel="noreferrer noopener">Bitcoin ETF</a> will be successful.</p><div class="my-4"><div class="ads ">
    </div>
</div>

Bold bet by BlackRock: Bitcoin ETF

Table of Contents

Cointribune EN

Other articles published on Jun 16, 2023

‘Tether is Less Likely To Be Perfect-Safe 1:1 in Reliable Assets’- Says Investor

Tether Shares Details of Its Collaboration With NYAG, Dismisses 'China Stocks' FUD

Colombia’s Central Bank Collaborates with Ripple for CBDC Pilot

Declining Holdings of US Institutions Delay Bitcoin's Entry into the Bull Market

YouSUI Protocol Announces Integration with Pyth Network to Provide Users with Real-Time Market Data

Texas regulator accuses Abra Group of securities fraud

Join our free newsletter for daily crypto updates!