BlackRock’s recent filing for a Bitcoin ETF is being seen by some as a huge vote of confidence for BTC, but at what cost?
“BlackRock's willingness to press on with a Bitcoin ETF at a time when the SEC is on a warpath against crypto is very telling. It shows confidence in Bitcoin’s status as a commodity – rather than a security,” he said, adding:
“It’s unlikely that BlackRock would push forward with an ETF of this nature without serious consultation with regulators and confidence in Bitcoin's future legal status.” BlackRock’s intention to use Coinbase Custody to control funds should also be seen as a massive confidence booster for Coinbase as it prepares its legal defense, Edwards explained.
He added that BlackRock — the world’s largest asset manager — likely wouldn’t partner with Coinbase had they not been “confident” in Coinbase’s legal position.Others argue that the traditional investment giant's latest moves undermine the"ethos" of decentralized cryptocurrencies, or, that the company may find a way to profit from retail investors.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BlackRock Close to Filing for Bitcoin ETF Application: SourceSCOOP: Investment giant BlackRock is close to filling an application for a Bitcoin ETF, according to a source. IanAllison123 reports.
Read more »
BlackRock is close to filing for bitcoin ETF, CoinDesk reportsBlackRock is close to filing an application for a bitcoin ETF, CoinDesk reported, citing a source.
Read more »
BlackRock Bitcoin Bombshell: Leading ETF Expert Skeptical About RumorsBlackRock, the largest asset manager in the world with $10 trillion in assets under management, is rumored to be on the cusp of filing a Bitcoin ETF application
Read more »
Why BlackRock is reportedly close to applying for Bitcoin ETF, despite regulatory pressure on cryptoBlackRock, the world's largest asset manager, is reportedly close to filing an application for a bitcoin ETF, or exchange traded fund, according to a...
Read more »
BlackRock files for spot bitcoin ETF, with Coinbase as a crypto custodianThe firm filed an application with the Securities and Exchange Commission to launch the iShares Bitcoin Trust.
Read more »
BlackRock takes giant leap toward spot bitcoin ETF with SEC filingBlackRock took giant leap toward a spot bitcoin ETF, filing a registration statement with the U.S. Securities and Exchange Commission on Thursday.
Read more »