Bitcoin ETF

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Social media is a place where false information spreads much faster than true information, and the same goes for cryptocurrencies. After the BlackRock ETF application in June, we saw so many rumors and headlines that made everyone wonder, “what’s going on?” Today, we will build a strong armor against the rumors you may hear in the coming weeks and months. Let’s focus on the differences between gossip and facts.
<h2 style="text-align: justify" id="blackrock-spot-bitcoin-etf-application">BlackRock Spot Bitcoin ETF Application</h2>
Since the application in June, we have heard all sorts of claims and conspiracy theories about how BlackRock will take over <a href="http://en.coin-turk.com/bitcoins-data-creates-fear-will-the-sales-stop/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> and destroy it. Some of them were so absurd. While it is true that institutional investors’ involvement in Bitcoin can provide deeper liquidity and reduce its volatility, the idea of taking over Bitcoin is nothing more than a funny conspiracy theory.
<img decoding="async" class="size-full wp-image-276429 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/BlackRock-ETF-.png" alt="" width="1092" height="493">
Just a few hours ago, we saw many popular crypto accounts sharing headlines like “BlackRock defines USDT and USDC as risky for Bitcoin.” Those who are not familiar with the details might think that the CEO of BlackRock warned about stablecoins killing Bitcoin in his interview with Bloomberg. But the reality is quite different.
<h2 id="dedikodular-ve-ger-ekler">Dedikodular ve Gerçekler</h2>
BlackRock will not take over the king of cryptocurrencies. This company, which issues more than 500 ETFs to make money, is the world’s largest asset manager. The reason why they are interested in cryptocurrencies is mainly the assumption that the interest in this field will increase in the coming years. With annual ETF management fees reaching up to 2%, if you were in a $10 trillion company, you would need the profit from your customers buying and holding a few billion dollars worth of Bitcoin ETF.
Now, let’s talk about today’s claims. In the “Risk Factors” section of the BlackRock ETF application, they mention the risks of stablecoins such as <a href="http://en.coin-turk.com/tether-makes-critical-changes-in-its-terms-of-service-what-does-it-mean-for-users/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Tether</a> USD (USDT) and Circle USD (USDC). Social media users who have never read any spot Bitcoin ETF filings before naturally perceive this as FUD specific to BlackRock. I cannot say they are completely wrong because the way the news is presented on <a href="https://newslinker.co/category/social-media/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">social media</a> leads them to think this way.
In this statement, the company explains what a stablecoin is and that its market value can fluctuate. According to BlackRock, this fluctuation exists despite the mechanism that is supposed to keep the token price stable against a fixed asset or currency.
<img decoding="async" class="wp-image-276428 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/BlackRock-ETF-Dedikodu.jpg" alt="" width="950" height="340">
Moreover, the risk factors section is present in every ETF filing, and the potential issuer company can write down the following things, and some of them have been written;
<ul style="text-align: justify">
 <li>If access to electricity disappears completely in the world, the Bitcoin network cannot continue to operate.</li>
 <li>If there is a major attack on the internet, the Bitcoin price can be sabotaged.</li>
 <li>If the third world war breaks out, the US can ban the use of cryptocurrencies worldwide to prevent financing terrorism. This situation can cause our investors to lose money.</li>
 <li>Bitcoin miners can organize and slow down the network, causing our customers to lose money due to their holdings of spot Bitcoin ETFs.</li>
 <li>If Satoshi Nakamoto appears and sells his massive Bitcoin holdings, you may incur losses.</li>
</ul>
And millions of risks with a probability of 0.000001% can be listed in this section. The listed risks do not need to have a probability of over 1% to occur.
Now you know how to approach social media posts and news that start with “According to the BlackRock ETF filing” or “According to BlackRock’s statement.” Because it is possible that you will see posts like “BlackRock says Bitcoin can go to zero in the event of a third world war” tomorrow or in the coming weeks. Continue Reading: <a href="https://en.coin-turk.com/the-truth-behind-the-blackrock-bitcoin-etf-rumors/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/the-truth-behind-the-blackrock-bitcoin-etf-rumors/</a>

The Truth Behind the BlackRock Bitcoin ETF Rumors

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