BlackRock's application for bitcoin ETF opens firm up to conspiracies

But even as crypto enthusiasts found advocates internally, people left. There was a"line in BlackRock to do the fun work" of working on digital assets or blockchain research full time, another former employee said.

BlackRock is now working on its partnerships with Coinbase and Circle and focusing on the four parts of its crypto strategy: stablecoins, tokenization, permissioned blockchains, and crypto assets. The price of bitcoin has rallied near its highest level of 2023 in the days since BlackRock filed its application, eclipsing $30,000 on Wednesday. Potential implications for the wider digital assets ecosystem aside, it's worth examining other reactions to the application.

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BlackRock ETF launch would put pressure on Grayscale's valuation: Bloomberg analystBlackRock's entrance into the Bitcoin ETF market would put pressure on Grayscale's valuation and fees, according to Bloomberg Intelligence analyst James Seyffart.
Source: TheBlock__ - 🏆 464. / 53 Read more »

Blackrock’s spot Bitcoin ETF renews optimism, sparks wave of new filingsLess than a week after Blackrock filed for a spot Bitcoin ETF, New York-based investment firm Wisdom Tree and global fund manager Invesco have lodged similar applications for a spot BTC product. BlackRock ItsWisdomTree has applied for a spot Bitcoin ETF twice before. Its first application was rejected by the SEC in December 2021. Its second application was rejected once again in October 2022, with the financial regulator citing similar concerns of fraud and market manipulation.
Source: Cointelegraph - 🏆 562. / 51 Read more »