The multi-billion dollar question posed by BlackRock's bitcoin ETF move
The Block spoke with Sui Chung, CEO of CF Benchmarks, which provides the index set to be used by BlackRock, Valkyrie and WisdomTree's proposed spot bitcoin ETFs....
- Bitcoin's price has risen nearly 14% this month after BlackRock filed for a spot bitcoin ETF, followed by other asset managers.
- The U.S. Securities and Exchange Commission's response to the filings will be closely watched, as the approval of the funds could affect the broader market and price of bitcoin.
- Sui Chung, CEO of Kraken-subsidiary CF Benchmarks, which provides the index set to be used by spot bitcoin ETFs being proposed by BlackRock, Valkyrie, and WisdomTree, spoke about what makes BlackRock's recent filing different from previous efforts and the potential market for the funds.
- The filings pose a larger question of how much the funds could start to affect the broader market and price of bitcoin, should they ultimately get the green light.
The article presents a neutral tone, discussing the potential impact of the proposed bitcoin ETFs and the involvement of CF Benchmarks in the process.