Posted 1/6/2024, 12:30:30 PM
Bitcoin Price Surges on Hopes for BlackRock Spot ETF Approval
- Bitcoin and crypto prices have roared back above $1.6 trillion in 2023 amid hype for a BlackRock-led spot bitcoin ETF.
- An insider leak reveals BlackRock has $2B ready to deploy into a bitcoin spot ETF in week one if approved.
- VanEck estimates $2.5B could flow into a bitcoin spot ETF in the first quarter if approved.
- Bitcoin spot ETF applications from BlackRock, Valkyrie, ARK 21Shares and others face a key January 8 deadline.
- If SEC denies the spot bitcoin ETF bids, there could be a major hit to the bitcoin price.