Aladdin

Bitcoin

Read

<div class="cryptonews"> 
 <p class="is-style-lead">SkyBridge Capital founder Anthony Scaramucci&nbsp;expects the launch of a Bitcoin (BTC) exchange-traded fund (ETF) to act as a catalyst, driving the coin’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> <a rel="noopener noreferrer nofollow" title="higher" href="https://thebittimes.com/tag/higher.html">higher</a>.</p> 
 <p>Scaramucci suggested that a spot Bitcoin ETF may be approved as soon as the first quarter of next year. This development could spur a bull market into action, he explains.</p> 
 <p>Here’s what the former White House Communications director recently told The Wolf of All Streets’ Scott Melker:</p> 
 <blockquote class="wp-block-quote"> 
  <p>As a Wall Streeter, products on Wall Street are sold, they are not bought. And so there’s going to be tens of thousands, if not a 100,000+ people at these Wall Street firms selling these products to their traditional investors.</p> 
  <p>So people that are in Bitcoin understand the finite supply of Bitcoin, understand the nature and the quality that Bitcoin has. This will push Bitcoin up and of course, it will have a dramatically positive effect on the altcoin market because it will lead to more capital into digital properties.</p> <cite>SkyBridge Capital founder Anthony Scaramucci</cite> 
 </blockquote> 
 <h2 class="wp-block-heading is-style-default" id="the-blackrock-effect">The BlackRock effect</h2> 
 <p>Scaramucci also said that the approval of spot Bitcoin ETFs filed by major asset managers like BlackRock or Fidelity Investments could push BTC’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> even further.</p> 
 <p>BlackRock, the world’s largest asset management company with over $10 trillion in assets under management, has been making significant moves in the cryptocurrency space, particularly with regard to Bitcoin. The company has been exploring the feasibility of entering the cryptocurrency market and offering bitcoin-related investments to its clients.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Scaramucci leads bidding for Silicon Valley Bank’s VC division 
 </div> 
 <p>In July 2018, BlackRock reportedly formed a task force consisting of experts in traditional finance to study the cryptocurrency market and blockchain technology. This move signaled the company’s interest in venturing into the nascent crypto space. Under the helm of Terry Simpson, a prominent investment manager and multi-asset strategist, the task force aimed to assess the potential of cryptocurrencies and blockchain technology for BlackRock’s clients.</p> 
 <p>BlackRock’s plans to provide digital asset trading services to its investors were revealed in February 2021. The company intended to launch this service through its Aladdin portfolio management system, which is widely used by institutional investors. The move would allow BlackRock’s clients to trade cryptocurrencies and manage their digital assets more efficiently.</p> 
 <p>While BlackRock’s exact plans and timeline for entering the cryptocurrency market may still be evolving, it is clear that the company recognizes the growing importance of digital assets and is actively exploring ways to incorporate them into its offerings.</p> 
 <p>As one of the most influential players in the financial industry, BlackRock’s entry into the crypto space could have significant implications for the mainstream adoption and acceptance of cryptocurrencies like Bitcoin.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> BlackRock denies buying crypto trading platform Voyager Digital 
 </div> <span class="google-news-banner__label">Follow Us on Google News</span> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/scaramucci-bitcoin-etf-could-push-btc-price-much-higher-in-early-2024-tbt63800.html">https://thebittimes.com/scaramucci-bitcoin-etf-could-push-btc-price-much-higher-in-early-2024-tbt63800.html</a></p>

Scaramucci: Bitcoin ETF could push BTC price much higher in early 2024

Table of Contents

TheBitTimes

Other articles published on Sep 23, 2023

Shoprite’s Technology Integration Revolutionizes Retail Shopping Experience in South Africa

ALTAVA Rocks @ Korean Blockchain Week

Bitcoin Halving in 2024 Might Cause ‘a Lot of Trouble’ – Here’s Why

Moonbeam (GLMR) Delegation Pioneers Getting NFT Rewards: Details

Weekly Project Updates: Arbitrum Reboots Odyssey, Optimism Announces Third Airdrop, OpenSea Set t...

Cainiao Raising A billion In Hong Kong With IPO, BABA Skyrocket?

Join our free newsletter for daily crypto updates!