Is Bitcoin going through the roof now? SEC Approves Black Rock Bitcoin Fund

Blackrock filed an application with the SEC for approval of an ETF on Bitcoin a few weeks ago. It is a lot of house number of course if the world’s largest wealth manager with around 10,000 Billions (!) of US dollars in investment assets on Bitcoin.

Even before the request for a new ETF, Blackrock campaigned for Bitcoin and enabled customers to invest in Bitcoin. Until now, this could not be done for the general public, but for a few customers. Now it’s with the new one Bitcoin ETF other investors are also allowed to bet on Bitcoin.

BlackRock asset manager files for bitcoin ETF https://t.co/PfTzS7RRd9 pic.twitter.com/3W0i8YLk6T
— Reuters (@Reuters) June 16, 2023

Is Blackrock ETF Boosting Bitcoin and Other Cryptocurrencies?

Of course, investing in Bitcoin is much easier when investing through an ETF. Many investors shy away from investing directly on crypto exchanges buy bitcoin and store the coins in his own wallet.

If you want to benefit from Bitcoin directly, you can continue to buy Bitcoin directly. But if you are risk shy but still want to benefit from Bitcoin, able to access the new ETF now set.

Black Rock’s entry into Bitcoin could also have great opportunities to pull up the price of other promising cryptocurrencies. A prominent example of this is also the new cryptocurrency BTC20, which represents Bitcoin as an ERC-20 token on the Ethereum blockchain.

Is iShares Bitcoin Trust the new star in the crypto sky?

The new iShares Bitcoin Trust, as Blackrock’s new ETF is called, offers a potential return hammer that investors can rely on to generate returns with cryptocurrencies.

Just IN – $10 trillion BlackRock official files for the spot #Bitcoin ETF pic.twitter.com/RgXxzlzTOY
— Bitcoin Magazine (@BitcoinMagazine) June 15, 2023

When the ETF is finally launched, it can be expected that cryptocurrencies will be widely accepted, including by the general public. The number of potential crypto investors is increasing, which is also very good for coin launches.

The ETF has not yet been finally approved, but has already been accepted. This is a big step to release the fund. The next step can be there in the Federal Register within 21 days Comments are made about the fund.

Long review process for Blackrocks Bitcoin ETF: Coinbase to be custodian

There is an extended opportunity for the SEC to gather information and hear other opinions before the ETF is ready and customers can buy or save shares in the iShares Bitcoin Trust. If the fund is finally approved, it will have a huge signaling effect for the crypto market.

Blackrock files for bitcoin ETF with SEC https://t.co/IR7PiKp0UC
— Fox News (@FoxNews) June 18, 2023

It is interesting at this point that Coinbase is going to be the custodian bank for the new Bitcoin ETF. This will also have a significant effect on the legal proceedings currently underway by the SEC Coinbase and Binance to be in charge.

In the past, the SEC has already rejected several Bitcoin ETFs. The IS Grayscale Investment LLC Conversion Bitcoin fund rejected by SEC. Other funds from Fidelity, Cboe Global Markets and NYDIG are also listed so far not allowed.

The SEC sees dangers in a lack of investor protection and possible market manipulation

Until now, the SEC has banned ETFs on Bitcoin mainly for potential reasons market manipulation or for reasons thereof investor protection deny. These reasons could also be a problem for Blackrock. Due to the huge market power of the Black Rock it is possible to manipulate the market.

Currently, as well as Blackrock, yes Bitwise, Wisdom Tree, Wise Origin Bitcoin Trust, Vaneck, Invesco and Fidelity Applications submitted for Bitcoin ETFs. The IS Request from Bitwise It was also adopted earlier this week.

Nasdaq redefines BlackRock’s bitcoin ETF application with SEC https://t.co/UXYS3vR2B5 pic.twitter.com/bj09eeAPRB
— Reuters (@Reuters) July 4, 2023

Optimism in the crypto market continues to rise. This is reflected in the successful launch of many new coins Shit coins and meme coins this year. It was well worth it this year buying Shit Coins.

By now there should already be the first ETF on Bitcoin in the EU. The question for many investors at this point is, of course, why should I wait to enter the market? Right now things are already looking up in many parts of the crypto market.

With a spot #bitcoin ETF, investors could buy and sell bitcoin without setting up an account on a cryptocurrency exchange.
What’s in it for BlackRock? Will this investment and its investors succeed? That’s the size @MHHume here to find out: https://t.co/CBbOOnKsWd
— Morningstar, Inc. (@MorningstarInc) July 12, 2023

Is BTC20 the new Bitcoin on the Ethereum blockchain?

With BTC20 there is one right now new cryptocurrency at the beginning, replicated the Bitcoin from 2011 as an ERC-20 token on the Ethereum blockchain. The IS ERC20 coin it offers stalking and is sold at a price of $1. This corresponds to the price of Bitcoin in 2011.

In 2011 it was 6.05 million bitcoins. The presale should have the same amount of BTC20 coins. There should be a total of 21 million coins after the presale. 14.95 million coins are said to be locked up by betting contracts. This enables BTC20 coin holders to generate passive income.

BTC20 is trying to replicate the margins of Bitcoin and allow investors to go back in time to once again participate in the returns of Bitcoin. BTC20 may be one of the biggest return opportunities for investors who missed out on the bitcoin hype.

If an investor Invest more BTC20, they will get higher reward. The IS A smart contract on the Ethereum blockchain releases the tokens according to the Bitcoin block schedule through a a period of about 120 years automatically free.