Channels

Bitcoin

Impact

Read

Spot

<div class="coingape"> 
 <p><strong>Read More: BTC Price Prediction If Spot <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> Is Approved</strong></p>  
 <div class="quads-location quads-ad90952 " id="quads-ad90952" style="float:none;text-align:center;padding:0px 0 0px 0;"> 
  <div class="ad1"> 
   <div class="advertised"> <span class="ad-placeholder">advertisement</span> 
   </div> 
  </div>  
  <div id="my-banner-ad" class="d-inline-block"></div> 
 </div> 
 <h2 id="b-the-domino-effect-of-blackrock-s-involvement-b"><b>The Domino Effect of BlackRock’s Involvement</b></h2> 
 <p><span style="font-weight: 400;">BlackRock, the world’s largest asset manager with over $9 trillion in assets under management, submitted its application for a Bitcoin spot ETF last month, significantly shifting the probability landscape. According to Balchunas, </span><span style="font-weight: 400;">the chances of a spot ETF approval have soared from 1% to 50% following BlackRock’s involvement. With BlackRock’s recent application boosting optimism in the crypto market, the race to launch the first spot <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> in the U.S. has never been more intense.</span></p> 
 <blockquote> 
  <p><span style="font-weight: 400;">Their application triggered a wave of similar filings by other prominent firms such as ARK Investment, Valkyrie, and Fidelity, setting the stage for a highly competitive environment.</span></p> 
 </blockquote> 
 <p><span style="font-weight: 400;">Although Bitcoin futures ETFs do exist in the U.S., they pale in comparison to what a spot ETF could bring to the table. Currently, these futures-based ETFs account for only about $1 billion in total assets under management. Balchunas describes the approval of a spot <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> as the “holy grail” that would dwarf current offerings and galvanize the crypto market like never before.</span></p>  
 <div class="quads-location quads-ad148831 " id="quads-ad148831" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="NewTrendin dsdsd m-on"> 
   <h5> 
    <svg class="inline-block w-5 ml-1 text-black _text-digg-blue" width="34" height="20" xmlns="//www.w3.org/2000/svg" viewbox="0 0 17 17" fill="currentColor"> <path fill-rule="evenodd" d="M12 7a1 1 0 110-2h5a1 1 0 011 1v5a1 1 0 11-2 0V8.414l-4.293 4.293a1 1 0 01-1.414 0L8 10.414l-4.293 4.293a1 1 0 01-1.414-1.414l5-5a1 1 0 011.414 0L11 10.586 14.586 7H12z" clip-rule="evenodd"></path> 
    </svg>Recommended Articles </h5> 
   <div class="TrendSList owl-carousel owl-relatedpostar"> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/06/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/09/06/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Crypto Presale Projects For 2023 To Invest; Updated List </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/06/fa6133ad6e87ee1c4776d3849180d46b.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/09/06/fa6133ad6e87ee1c4776d3849180d46b.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Best Crypto Trading Bots List 2023</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/05/f88de9f91a8c6b7926f52e209e8f697e.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/09/05/f88de9f91a8c6b7926f52e209e8f697e.webp" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated] </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/05/e59946958a3ce000f279efb2e1b9c852.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/09/05/e59946958a3ce000f279efb2e1b9c852.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Crypto Telegram Channels List 2023 [Updated]</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/05/48cfebc8a0493db9937bed5dd005ee19.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/09/05/48cfebc8a0493db9937bed5dd005ee19.webp" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Top 10 Web3 Games To Explore In 2023; Here List</h6> <span>Must Read</span> 
    </div> 
   </div> 
  </div> 
 </div> 
 <h2 id="bitcoin-spot-etf-impact-on-crypto">Bitcoin Spot ETF Impact on Crypto</h2>  
 <div class="quads-location quads-ad124348 " id="quads-ad124348" style="float:none;text-align:center;padding:0px 0 0px 0;">   
 </div> 
 <p><span style="font-weight: 400;">As of the time of this writing, Bitcoin price trades at </span><span style="font-weight: 400;">$25,712.38</span><span style="font-weight: 400;">, with a market cap just above $500 billion. While the currency has experienced marginal volatility, dropping 0.12% in the last 24 hours, the broader crypto market remains optimistic. A spot ETF would not only benefit Bitcoin but could also serve as a boost for other cryptocurrencies, solidifying the asset class’s position in mainstream finance.</span></p> 
 <p><span style="font-weight: 400;">The approval of a Bitcoin spot ETF stands as a potentially transformative moment for the American market. With at least 10 firms in competition and astronomical sums at stake, the race is certainly heating up. BlackRock, having already partnered with Coinbase </span><span style="font-weight: 400;">in 2022 to offer institutional clients crypto access and later launching its own spot Bitcoin private trust, appears to be at the vanguard of this financial revolution.</span></p> 
 <p><span style="font-weight: 400;">With trillions of dollars in play, the implications for Bitcoin and the broader crypto market are colossal. The clock is ticking, and the world watches with bated breath as regulatory decisions loom on the horizon.</span></p> 
</div>  
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/blackrock-bitcoin-spot-etf-could-unlock-30-trillion-bloomberg-analyst-tbt61752.html">https://thebittimes.com/blackrock-bitcoin-spot-etf-could-unlock-30-trillion-bloomberg-analyst-tbt61752.html</a></p>

Blackrock Bitcoin Spot ETF Could Unlock $30 Trillion: Bloomberg Analyst

Table of Contents

TheBitTimes

Other articles published on Sep 6, 2023

Google Unveils New Ads Policy For NFT Games

Former Goldman Sachs executive predicts a $1 quadrillion cryptocurrency future.

Ben Armstrong Launches BEN Nation After Getting Kicked From Bitboy

Ric Edelman, Founder of $241 Billion Asset Manager, Forecasts Bitcoin at $150,000 – Here’s When

ADA Price Nurtures Bullish Breakout From This Crucial Support

Top 5 Meme Coins to Boost Profitability and Supercharge Gains in 2023

Join our free newsletter for daily crypto updates!