 | Where are we at with the Bitcoin Spot ETF on the New York Stock Exchange/NASDAQ? By now you’ve heard the craze about the Bitcoin Spot ETF being passed sometime in the near future and you may think it is about time that the NASDAQ had a Bitcoin Spot ETF. Currently, eight countries have approved a Bitcoin Spot ETF: Canada, Germany, Brazil, Australia, Jersey, Switzerland, Liechtenstein, and Guernsey. It is rumored that the BlackRock Spot Bitcoin ETF is going to raise a seed of $100 million, ten times more than the original $10 million rumored in October. The demand is there and the largest asset manager in the world knows it. We all hear how BlackRock is the largest asset manager in the world, but how big are they? As of June 2023, BlackRocks owns $9.2 trillion in assets which is nearly have of the M2 money supply of 20.7 trillion. That means BlackRock nearly has the coveted 51% attack on the world’s global reserve money supply and everyone is worried about the 51% attack on Bitcoin? C’mon. Have there been signs of BlackRock wanting to get into Bitcoin? The short answer is yes. But I’ll give you the slightly longer answer to paint the picture as to why BlackRock has been preparing to launch a Spot Bitcoin ETF for some time. Riot Blockchain is the largest publicly traded Bitcoin miner and BlackRock recently increased its percentage of ownership to 5.65%. Marathon Digital is another large publicly traded miner and BlackRock increased its holdings in MARA to 5.30%. BlackRock also owns large stake in CIFR, WULF, and CLSK. Now why would BlackRock hold Bitcoin miners if BlackRock was not bullish on Bitcoin? Oh wait, there’s more. BlackRock owns 8.1% of MicroStrategy which famously continues to stack Bitcoin every chance Michael Saylor gets. For reference, MicroStrategy owns 174,530 Bitcoin equating to ~$7.62 Trillion. MicroStrategy is the largest holder of Bitcoin of any publicly traded company and BlackRock owns a significant share. BlackRock has been in the Bitcoin space for quite sometime but it has been waiting for a time to strike on the Spot ETF. It appears its not a matter of if, but a matter of when this will occur. The largest asset manager in the world beat you to Bitcoin with a significant amount of regulation, and all you had to do was read a book. What are you waiting for? [link] [comments] |
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments