Will BlackRock’s ETF slingshot Bitcoin’s price skyward?

Cointelegraph
Cointelegraph

30 Jun 2023 1:22 PM

With its fixed supply limit, illiquidity and small market cap, there may not be enough BTC on the shelves for BlackRock and others to snap up. ...

  • Traditional financial firms, including BlackRock, Fidelity Investments, Charles Schwab, and Citadel, are showing increased interest in digital assets.
  • BlackRock, with $9 trillion in assets under management, has filed for permission to build a Bitcoin-based exchange-traded fund (ETF).
  • Deutsche Bank, with $1.4 trillion in balance sheet assets, has applied for a license to custody crypto.
  • These developments have boosted crypto trading markets, with Bitcoin gaining 20% in a week.
  • The filing of a BlackRock Bitcoin ETF could make Bitcoin more accessible to a larger investing public.
  • Other firms, such as Invesco and WisdomTree, have also filed for Bitcoin ETFs.
  • Some experts believe that the movement of digital value is the next evolution of the internet and that the US has been slow to embrace it.
  • Questions arise about the endurance of Bitcoin's recent price gains, the role of retail investors among institutional arrivals, and the potential market cap growth of the crypto market.

The sentiment of the article is generally positive, highlighting the increasing interest and involvement of traditional financial firms in digital assets.

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You May Ask

How enduring are Bitcoin's most recent price gains?Where do retail investors fit in among the new institutional arrivals?How far can the so-called Great Accumulation go in terms of market cap growth?Will the filing of a BlackRock Bitcoin ETF lead to price gains for BTC?Is the movement of digital value the next evolution of the internet, and why has the US been slow to embrace it?

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