BlackRock's Crypto Move Invites Wall Street In

Tuesday, 19/12/2023 | 12:45 GMT by Louis Parks
  • In the middle of the crypto price boom, BlackRock announces a game changer.
  • The finance giant has altered its bitcoin ETF application.
  • Firms like JPMorgan and Goldman Sachs can come on board.
blackrock

In the midst of the $700 billion crypto surge, BlackRock, the behemoth managing $10 trillion, quietly altered its bitcoin ETF application, opening the door to financial titans like JPMorgan and Goldman Sachs.

The revelation sent shockwaves through the market, propelling bitcoin past $40,000, marking a grand return since early 2022.

BlackRock's Silent Revolution

Whispers of a sovereign bitcoin bid circle as finance giant BlackRock redefines the game with its bitcoin spot ETF. It’s all down to the new strategic shift, which allows Wall Street giants to enter the fray as "authorized participants," circumventing hurdles that barred them from holding crypto assets directly.

Shaping the Future

As BlackRock, Fidelity, Grayscale, and Franklin Templeton engage with the SEC in anticipation of the next ETF approval cycle, the revised model promises increased liquidity . The altered approach, embracing both cash and physical elements, has the potential to amplify the influence of colossal American banks in this trillion-dollar-plus domain.

Decrypting the Market Dynamics

The balance sheets of financial behemoths could reshape the crypto landscape, outclassing even the expertise of trading firms like Jane Street. BlackRock's move hints at impending Wall Street involvement in the crypto sphere, where whispers can sometimes speak the loudest. Whatever happens, change is coming.

In the midst of the $700 billion crypto surge, BlackRock, the behemoth managing $10 trillion, quietly altered its bitcoin ETF application, opening the door to financial titans like JPMorgan and Goldman Sachs.

The revelation sent shockwaves through the market, propelling bitcoin past $40,000, marking a grand return since early 2022.

BlackRock's Silent Revolution

Whispers of a sovereign bitcoin bid circle as finance giant BlackRock redefines the game with its bitcoin spot ETF. It’s all down to the new strategic shift, which allows Wall Street giants to enter the fray as "authorized participants," circumventing hurdles that barred them from holding crypto assets directly.

Shaping the Future

As BlackRock, Fidelity, Grayscale, and Franklin Templeton engage with the SEC in anticipation of the next ETF approval cycle, the revised model promises increased liquidity . The altered approach, embracing both cash and physical elements, has the potential to amplify the influence of colossal American banks in this trillion-dollar-plus domain.

Decrypting the Market Dynamics

The balance sheets of financial behemoths could reshape the crypto landscape, outclassing even the expertise of trading firms like Jane Street. BlackRock's move hints at impending Wall Street involvement in the crypto sphere, where whispers can sometimes speak the loudest. Whatever happens, change is coming.

About the Author: Louis Parks
Louis Parks
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Louis Parks has lived and worked in and around the Middle East for much of his professional career. He writes about the meeting of the tech and finance worlds.

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