BlackRock s announcement about its hopes for a spot bitcoin exchange-traded fund (ETF) has helped the original cryptocurrency recover from its slump, with bitcoin s market value comprising almost half of the $1.1tn crypto market. BlackRock s track record of getting its ETFs approved by the Securities and Exchange Commission (SEC) has increased optimism, with Invesco and WisdomTree also reapplying for BTC ETF approval since BlackRock s move. However, the SEC recently sued Coinbase and Binance, which has made some investors hesitant, and at present, American crypto investors can access only futures-based ETFs.
Bitcoin, the currency created to subvert the financial establishment, has shaken off weeks of sickness with the support of Wall Street's finest. The original crypto coin has leapt 20% to two-month highs at $30,182 over the past 11 days after BlackRock, the world's largest asset manager, revealed hopes for a spot bitcoin exchange-traded fund (ETF) in the United States. BlackRock filed for a prospective spot bitcoin ETF on June 15, undeterred by the Securities and Exchange Commission's (SEC) past record of rejecting every such application.
Bitcoin bounces on BlackRock buzz theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
BlackRock filed for a prospective spot bitcoin ETF on June 15, undeterred by the Securities and Exchange Commission's (SEC) past record of rejecting every such application