Comment
Author: Admin | 2025-04-28
Due to concerns over market manipulation, lack of regulation, and fraud risks in the Bitcoin market.But the chances of approval for BlackRock's application appear extremely promising, given the firm's ability to get ETFs approved. With an impressive record of 575-1 in favor of approval, and a history of meeting market demand for its products, BlackRock has demonstrated a remarkable ability to navigate the regulatory landscape. Not only would BlackRock's Bitcoin ETF more closely resemble a true spot ETF, but it also looks to have hammered out solutions to the SEC's concerns over investor protection. The application states there will be added surveillance with the help of Nasdaq that will track customer identification and market trading data.BlackRock has also partnered with Coinbase to serve as the custodian of the actual bitcoins purchased, which will add greater levels of protection for investors. Crunching the numbersTo understand the magnitude of this approval's potential impact on Bitcoin's price, let's delve into the numbers. BlackRock has a massive portfolio totaling $9 trillion, bigger than the gross domestic product of most countries. About 11% of Bitcoin's current supply is sitting on exchanges representing roughly 2.2 million coins. Based on today's prices, that equates to around $66 billion worth of Bitcoin. From BlackRock's perspective, $66 billion is measly. Yet if just 0.7% of BlackRock's assets were allocated to Bitcoin, it would be enough to absorb all the coins currently available on exchanges. This is a hypothetical scenario, of course, but it helps us truly grasp the immense significance and capital that could be eagerly waiting to flood into the Bitcoin market if the ETF is approved. The introduction of a more accurate Bitcoin ETF to the stock market has the potential to unleash a wave of adoption for the crypto like never before. There is plenty of
Add Comment