Black Rock not just any company, but the world’s largest asset manager with a portfolio of approx $10 trillionie 10 trillion(!) US dollars.
Of course, when this giant makes a commitment to a company or asset class, it has a big impact on the market. Now the investment giant has announced that ETF for bitcoin sent and has already submitted corresponding applications.
BlackRock asset manager files for bitcoin ETF https://t.co/PfTzS7RRd9 pic.twitter.com/3W0i8YLk6T
— Reuters (@Reuters) June 16, 2023
Are Bitcoin and Other Cryptocurrencies Exploding Now? Investors should jump in quickly
It is clear that Black Rock’s entry into the crypto market can not only pull up Bitcoin, but also other promising crypto currencies. If the price of Bitcoin rises, in most cases this pulls the market up, including new cryptocurrencies.
be through Exposure to Bitcoin Blackrock brings some security to the crypto market, so that investors who haven’t invested yet because they don’t trust the current possibilities will also.
Buying cryptocurrencies can be more complicated than investing in an ETF, especially with a well-known company like Blackrock. In addition to Bitcoin, there are many other cryptocurrencies that promise high returns. This also includes crypto presales.
Will the SEC Approve the New Bitcoin ETF? The iShares Bitcoin Trust is launching soon
The IS iShares Bitcoin Trust BlackRock is probably at Coinbase Custody kept This stems from Black Rock’s application to the US Securities and Exchange Commission (SEC).
The US regulator has not yet approved applications for a bitcoin spot ETF. However, the SEC is unlikely to take on Blackrock, despite the agency’s recent battle against many crypto companies, including the world’s largest crypto exchange Binance.
BlackRock is looking to acquire the first spot Bitcoin ETF launched in the US https://t.co/sOahJ8bpUE
— Bloomberg Crypto (@crypto) June 16, 2023
However, the SEC again last year approved the conversion of the Grayscale Investment LLC to a bitcoin fund deny. Other funds from Fidelity, Cboe World Markets and NYDIG that has so far been rejected.
Blackrock backs the crypto market – is the SEC collapsing now?
Blackrock has been operating a private fund for its customers for the past year, allowing them to invest in Bitcoin. However, the fund is not open to the public like the new iShares Bitcoin Trust.
So Blackrock is in action at a time when the crypto market may need support. Through the commitment, the capital giant is of course strengthening the two crypto exchanges Binance and Coinbase as well as the entire crypto market.
Additionally, Blackrock’s commitment shows that the public is clearly more interested in cryptocurrencies and looking for an opportunity to invest in this new asset class.
Easier to invest in Bitcoin without buying Bitcoin directly
With the new iShares Bitcoin Trust, investors can therefore invest in Bitcoin without buying Bitcoin themselves. It is easier, safer and requires no knowledge of handling, to create a Bitcoin wallet.
The fund exactly replicates the price of Bitcoin. The price of Bitcoin rose briefly due to the announcement alone, but it could not be sustained for now as the current market environment is obviously difficult.
— Bitcoin Magazine (@BitcoinMagazine) June 15, 2023
Overall, Bitcoin is up nearly 60% this year and of course has the potential to go even higher. Ultimately, that also depends on the SEC laws against Binance and what the overall market environment is like. But there are also some interesting alternatives to Bitcoin.
Are Meme Coins Overtaking Bitcoin? And if bitcoin is doing well, are meme coins doing even better?
This year, meme coins from crypto presales did much better than Bitcoin itself, This shows that there is a lot of money to be made in the crypto market without relying on the biggest cryptocurrencies.
The example of “Wall Street Memes” ($WSM) shows how well meme coins are doing, because the new cryptocurrency has already exceeded the mark of 6 million US dollars in the crypto presale in a very short time and is on the way to the presale finish ahead of schedule.
The IS The success of the meme coins depending in most cases on the community. Here it is $WSM some great benefits. First of all, the community is already in different ways in the millions.
In addition, several celebrities have endorsed the coin. How to react Elon Musk for example, regularly tweets Wall Street Memes, which further increases the awareness of the project. It is therefore possible that it is worth getting into the new cryptocurrency quickly and it is already scarce in the presale 20% back drive in
Some would even call it visionary
— Wall Street Memes (@wallstmemes) April 22, 2023
The analysis of the coin is great and buying $WSM seems like a worthwhile investment according to analysis and many experts.
Cryptocurrency with potential 2023
Cryptocurrencies are a highly volatile, unregulated investment product. Your capital is at risk.