BlackRock Inches Closer To Launching Bitcoin ETF: Potential Impact On BTC Price
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Financial circles are buzzing with the news that BlackRock, the world’s largest asset manager, is considering applying for a Bitcoin Exchange Traded Fund (ETF). This development signifies a substantial move by one of the most influential financial institutions into the world of cryptocurrencies. The anticipation is growing amid revelations that BlackRock plans to use Coinbase Custody for the ETF, alongside the crypto exchange’s spot market data for pricing. This alliance represents a significant step in legitimizing cryptocurrencies in traditional finance. Notably, Bitcoin (BTC) and Coinbase (COIN) have not reacted to the news but have only continued to dwell in red, with
Bitcoin (BTC) advocates have highlighted a clause in Valkyrie’s spot Bitcoin exchange-traded fund (ETF) application that could allow the US government to seize the underlying BTC. The clause allows a US federal or state regulator to liquidate, seize, impound, or otherwise restrict access to BTC, which could be concerning, given…