Blackrock’s iShare’s BTC ETF has had a turbulent day. First appearing on the DTCC site yesterday, then disappearing this morning before re-appearing this afternoon. There is speculation about what happened but nothing has been confirmed as fears grew, rejection from the SEC was on the cards but thankfully that was not the case.
It’s thought Blackrock has bought big on Bitcoin as they were charged by the SEC failing to disclose investments today, suggesting to investors that they have begun buying big ahead of approval for a Bitcoin Spot ETF. A huge institution such as Blackrock buying Bitcoin will certainly get people excited and the price has increased up to $34,000 in the past 24 hours.
What can we expect in the coming days? Well its hard to tell but its looking ever more likely that a spot ETF will be approved for Bitcoin and Blackrock’s example will be at the forefront of activity. It surely suggests other spot ETF’s such as Greyscales will be accepted shortly after. We wait for the coming news….
