BlackRock's potential involvement in Bitcoin's recent price crash is being investigated, but there are several reasons why this claim may be unfounded and not aligned with the company's interests.
Global investment giant BlackRock has positioned itself to benefit from the growing importance of digital assets, including Bitcoin, through its substantial stake in MicroStrategy, indicating a new phase of institutional adoption in the cryptocurrency market.
Head of Research at FS Insight, Tom Lee, predicts that Bitcoin's network value and scarcity could push its price over $200,000, while other experts, including Ark Invest CEO Cathie Wood, also foresee significant growth for the cryptocurrency. Lee highlights Bitcoin's resilience and regulatory scrutiny as well as interest from traditional financial giants such as BlackRock and Citadel.
BlackRock, the world's largest asset manager, has filed a proposal to establish a Bitcoin exchange-traded fund (ETF), which could increase mainstream acceptance of Bitcoin investing and open up new investment opportunities if approved by the U.S. Securities and Exchange Commission (SEC).
Bitcoin surged over 5% to surpass $27,000 after a federal appeals court ruled that the U.S. Securities and Exchange Commission must review its rejection of Grayscale Investments' attempt to convert its Grayscale Bitcoin Trust into an ETF, potentially opening the door for a spot bitcoin ETF in the U.S.
Bitcoin prices surged 7% as traders reacted to the potential approval of the Grayscale Bitcoin spot ETF by a federal appeals court, although cautious optimism remains as final decisions have yet to be made and trading volume in the digital asset market remains low.
The average trade size of Bitcoin on most exchanges increased significantly following a court ruling that the SEC must review its rejection of Grayscale Investments' attempt to convert the Grayscale Bitcoin Trust into an ETF, suggesting increased activity by large traders. Additionally, Bitcoin's price climbed over 7% as market confidence in a bitcoin spot ETF approval grew.
ARK Invest CEO Cathie Wood predicts that the market capitalization of cryptocurrencies will increase by over 2,100% in less than seven years, driven by institutional investment and the potential approval of a Bitcoin exchange-traded fund (ETF), with the total crypto market cap potentially reaching $25 trillion by 2030.
Bitcoin led the cryptocurrency market higher following Grayscale's victory in the lawsuit against the SEC, but analysts caution that the victory does not guarantee the approval of a spot Bitcoin ETF.
Bloomberg ETF analysts have increased the probability of an approved spot Bitcoin ETF by the end of 2023 to 75% following a recent Grayscale victory against the SEC, with approvals estimated to reach 95% by Q4 2024, making a denial politically untenable.
Bitcoin's recent legal victory and the possibility of approved spot Bitcoin ETFs from major financial firms like Blackrock and Fidelity could lead to increased adoption and price gains in September.
Bitcoin could potentially experience a significant increase of 10% to 20% if a spot BTC exchange-traded fund (ETF) is approved in the United States, according to analyst DonAlt, who believes the chances of approval are close to 100%.
Bitcoin's volatility has increased as the market reacts to news regarding the United States Securities and Exchange Commission's delay on Bitcoin exchange-traded fund (ETF) applications, with Bloomberg analysts remaining optimistic about the possibility of Bitcoin ETFs being approved in 2023.
Analysts from crypto research firm K33 claim that the potential approval of a spot Bitcoin ETF is underestimated by the market, stating that it would attract significant inflows and increase buying pressure for Bitcoin, while a rejection would have a negligible impact on prices; they also predict that Ether is likely to outperform Bitcoin in the next two months.
BlackRock, a major asset manager, is accused of deliberately driving down the price of Bitcoin in order to establish a better buying position for their Spot Bitcoin Exchange-Traded Fund (ETF) if it is approved, according to analyst Crypto Rover. This highlights the influence of big players in the market and reminds retail investors to be more analytical.
The market is underestimating the potential impact and value of Spot Bitcoin ETFs, with analysts arguing that approval would lead to significant financial inflows and buying pressure, and that it is a good time to enter the market and start building a crypto portfolio, despite regulatory challenges. Ethereum could also benefit from a futures-based ETF listing, but there is caution about the SEC potentially classifying ETH as a security. Overall, the global crypto adoption is dependent on market maturity, regulatory intervention, and consistent long-term adoption.
Around $150 billion worth of capital could enter the Bitcoin market if BlackRock's BTC spot exchange-traded fund (ETF) gets approved, according to a senior Bloomberg ETF analyst.
Bitcoin (BTC) reached new September highs as markets reacted positively to macroeconomic and crypto industry news, with the cryptocurrency trading at around $26,300, up 5.5% from its September lows; traders have expressed optimism about Bitcoin's recent performance and potential future breakout if a Bitcoin spot price ETF is approved by U.S. regulators in the coming months, while some remain cautious and predict a potential relief rally before a further decline in on-chain volume.
Bitcoin is expected to experience a significant increase in value and reach a fair value of $100,000, driven by institutional capital inflows and the approval of Bitcoin ETFs, according to Mark Yusko, founder of Morgan Creek Capital.
The introduction of a bitcoin ETF could increase accessibility, liquidity, and institutional adoption, potentially stabilizing prices and attracting capital from mainstream investors, similar to the impact of gold ETFs on the gold market.
Political pressure is causing delays in the approval of a Bitcoin spot ETF, but CEO of BitGo, Mike Belshe, remains optimistic that Bitcoin's price will reach its record high of $69,000 within the next 18 months.
Cryptocurrency markets surged higher, with Bitcoin breaking above $27,000 and Ethereum outperforming Bitcoin due to investor hopes for a potential U.S. regulatory greenlight for a futures-based exchange-traded fund (ETF).
Bitcoin's price has increased by 60% since the beginning of the year, reaching $26,972, while Ethereum's price has risen by 40% and now trades at $1,672; the approval of VanEck's Ethereum Futures ETF likely contributed to the recent boost in Ethereum's price.
Former BlackRock managing director Steven Schoenfield predicts that the U.S. Securities and Exchange Commission (SEC) will approve a Bitcoin spot ETF within three to six months, and believes that a potential approval could lead to a significant inflow of $150 to $200 billion into Bitcoin investment products over three years.
Bitcoin and other cryptocurrencies have been affected by the Federal Reserve this year, potentially leading to a difficult situation for bitcoin prices, but a former BlackRock managing director predicts that the U.S. SEC will approve a bitcoin spot ETF within the next few months.
The SEC's engagement with spot bitcoin ETF applicants and positive developments from BlackRock indicate a high chance of approval for bitcoin spot ETFs by the end of 2023 or the first quarter of 2024, potentially leading to a wave of institutional investment and redefining investment dynamics.
Bitcoin jumped 4.5% amid hopes for the approval of a bitcoin exchange-traded fund (ETF), potentially clearing the way for the first bitcoin ETF in the US.
BlackRock CEO Larry Fink comments on the firm's Bitcoin exchange-traded fund (ETF) application but does not disclose its status, while emphasizing the growing interest in cryptocurrency among clients; the comments came after a false report initially caused a rally in Bitcoin's price.
BlackRock CEO Larry Fink discusses the growing demand for cryptocurrency and the recent rally in the market, while awaiting SEC approval for a bitcoin spot ETF.
Bitcoin surged on false reports of BlackRock receiving SEC approval for a spot bitcoin ETF, highlighting the potential for significant capital inflows if such an approval were to occur.
BlackRock's entrance into the cryptocurrency market and adoption of blockchain technology could have a significant impact on Bitcoin, Ethereum, XRP, and other major cryptocurrencies.
According to data analytics firm CryptoQuant, the approval of bitcoin spot exchange-traded funds (ETFs) could lead to bitcoin becoming a $900 billion asset and the total crypto market growing by $1 trillion, with the potential inflow from ETFs being larger than that of the Grayscale Bitcoin Trust (GBTC) in the last bull market cycle. This scenario could push bitcoin's price to between $50,000 and $73,000, and historically, for every $1 of fresh money entering the bitcoin market, the market capitalization could increase by $3-$5.
Bitcoin experienced a short-lived rally after an erroneous news post about the SEC approving BlackRock's BTC exchange-traded fund (ETF) application, serving as a reminder of how the market could react when a real approval happens; analysts predict that a genuine approval could lead to even larger price gains, but it could also be a "sell the news" event.
Fidelity has amended its Bitcoin ETF application and emphasizes the risks associated with the product, as market analysts predict that a Bitcoin ETF is closer to approval, which could bring fresh capital into the market. However, concerns about the volatility of the crypto market and regulatory scrutiny remain. Several major Wall Street players have also applied for a Bitcoin ETF, and analysts believe there is a 90% chance of approval in January 2022.
The false report of the SEC approving a Bitcoin ETF caused a price spike and revealed bullish sentiment in the options market, indicating potential interest and optimism for ETF approval.
A bitcoin spot ETF approval in the US could lead to a surge in bitcoin's market capitalization, potentially adding $1 trillion to the wider crypto market value.
Bitcoin (BTC) surged to $29,300, driven by optimism surrounding a potential approval of a Bitcoin exchange-traded fund (ETF) in the U.S., while other forks of Bitcoin, such as Bitcoin Cash (BCH) and Bitcoin SV (BSV), experienced significant gains, indicating possible irrational exuberance. There is anticipation that the approval of a Bitcoin ETF, along with the upcoming halving event in April, could ignite a strong bull market.
Interest in the potential launch of a spot bitcoin ETF has surged among retail investors, as indicated by the worldwide Google search value for "spot bitcoin ETF" approaching its peak value of 100, signaling maximum interest, while the search value for "bitcoin ETF" has reached its highest level in two years. Retail investors are seeking information on how a spot ETF might impact the cryptocurrency market. The approval of a spot BTC ETF is seen as a significant milestone in bitcoin's mainstream adoption and is expected to bring increased liquidity.
Increased optimism about the potential approval of multiple spot bitcoin exchange-traded-funds (ETFs) has led to the recent gains of Bitcoin (BTC), according to JPMorgan.
Major cryptocurrencies experienced a significant surge, with bitcoin leading the way, as hopes for the approval of a bitcoin exchange-traded fund (ETF) boosted the overall crypto market.
Bitcoin surpassed $30,000 for the first time since August, driven by optimism that the SEC will approve exchange-traded funds (ETFs) investing directly in the cryptocurrency. Market participants anticipate approval of a spot bitcoin ETF by January 10th, the deadline for a response to ETF applications.
If the U.S. Securities and Exchange Commission approves a spot Bitcoin exchange-traded fund (ETF), a top analyst predicts that Bitcoin could reach levels not seen since November 2021, potentially appreciating by over 100%.
Bitcoin's price surged 10% after false rumors about BlackRock launching a Bitcoin ETF were spread on Twitter, highlighting the industry's anticipation for SEC approval, while other news included the ongoing trial of FTX co-founder Sam Bankman-Fried and concerns about money flows at British exchange Bitrace.
