BlackRock Warns Bitcoin ETF Exposed to Risks From Volatile Stablecoins Like Tether
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BlackRock's filing for a Spot Bitcoin ETF lists exposure to stablecoins like USDT and USDC as a risk factor.
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BlackRock says it does not directly invest in stablecoins, but has indirect exposure.
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BlackRock notes stablecoins pose risks to the bitcoin market due to price volatility.
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Stablecoin volatility has impacted bitcoin prices in the past, per BlackRock.
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BlackRock says stablecoins are a new phenomenon so the full risks are unknown.