Bitcoin ETF

Bitcoin

Spot

<p>Investment manager Blackrock and Wall Street giant JP Morgan have reportedly asked their employees to be prepared for an imminent spot Bitcoin ETF approval from the U.S. Securities and Exchange Commission (SEC). Blackrock had earlier named JP Morgan as the lead authorized participant (AP) in its recent ETF filing.</p> 
<p>Also Read: <a href="http://coingape.com/crypto-transactions-over-10000-face-stricter-irs-scrutiny-under-new-us-rules" target="_blank" rel="noopener"><strong>Crypto Transactions Over $10,000 Face Stricter IRS Scrutiny Under New US Rules</strong></a></p> 
<h2 id="blackrock-jp-morgan-bitcoin-etf-dominance">Blackrock, JP Morgan &amp; Bitcoin ETF Dominance</h2> 
<p>When Blackrock chose JP Morgan as its authorized participant, the crypto community <a href="https://coingape.com/valkyrie-blackrock-amends-s-1-document-reveals-aps-in-latest-bitcoin-etf-filing/" target="_blank" rel="noopener">called out</a> the ‘irony’ recalling that the Wall Street bank’s chief executive officer Jamie Dimon demanded that Bitcoin usage be banned in the United States. John Deaton, the attorney representing XRP token holders in the Ripple lawsuit against the SEC, reiterated his previous stance that the likes of Blackrock wanted to gain a share of the crypto market before the SEC opens the doors to regulatory guidance, all while people like Dimon criticized the crypto space.</p> 
<p>Meanwhile, it remains to be seen if Blackrock would be able to compete against crypto focused players like Grayscale in its pursuit to replicate its dominance in the Bitcoin ETF space. The investment manager handles assets worth around $9 trillion for clients across the world.</p> 
<h2 id="btc-price-target">BTC Price Target</h2> 
<p>Meanwhile, the <a href="https://coingape.com/price/bitcoin/" target="_blank" rel="noopener">Bitcoin (BTC) Price</a> is showing signs of a bullish momentum with a 7% growth in the last 7 days. It remains to be seen if the BTC price touches the psychologically important milestone of $50,000 ahead of the expected spot Bitcoin ETF approval window between January 8-10, 2024.</p> 
<p>Also Read: <a href="https://coingape.com/bitcoin-etf-how-will-blackrock-balance-fees-with-market-dominance" target="_blank" rel="noopener"><strong>Bitcoin ETF: How Will BlackRock Balance Fees with Market Dominance?</strong></a></p> 
<p>The post <a href="https://coingape.com/blackrock-jp-morgan-prepare-for-immediate-spot-bitcoin-etf-approval/">Blackrock, JP Morgan Prepare For Imminent Spot Bitcoin ETF Approval</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

Blackrock, JP Morgan Prepare For Imminent Spot Bitcoin ETF Approval

Table of Contents

Coingape News Media

Other articles published on Jan 3, 2024

Popular Analyst Puts Solana At $1,000 And XRP At $7, Here’s The Roadmap

The 7 Best Cryptos To Buy As the Market Turns Bullish

Massive Bitcoin Liquidation – BTC Price Breaks in! What Lies Ahead For The BTC Price?

Ripple (XRP) Price Prediction As Crypto Bull Run Falters, Is This A Good Time To Buy The Dip?

Can Polygon zkEVM replicate 2023’s success in 2024?

How Meme Coins BONK, SHIB, PEPE Opened the 2024 Trading Week

Join our free newsletter for daily crypto updates!