BlackRock’s Bitcoin ETF Bid Could Ignite $15 Trillion Crypto Revolution
Key Points:
- BlackRock intensifies foray into cryptocurrency with a spot Bitcoin ETF filing, potentially unlocking a $15T crypto boom.
- Laser Digital survey shows 96% of professional investors with $5T AUM are interested in investing in cryptocurrencies.
- Several large financial institutions, including Invesco and WisdomTree, file for their own spot Bitcoin ETFs.
BlackRock, the largest asset manager in the world with nearly $10 trillion in assets under management, has recently made moves to expand its presence in the cryptocurrency domain.
This development has sparked widespread interest and could potentially unlock a $15 trillion crypto boom. The firm filed for an exchange-traded fund (ETF) focused on the spot bitcoin market, which has already catalyzed a notable rise in bitcoin’s value, with the flagship cryptocurrency up nearly 20% over the past week. The broader cryptocurrency market has also rallied, now boasting a market capitalization of $1.17 trillion. Other cryptocurrencies like Ethereum ($ETH), $BNB, $XRP, and even meme-inspired cryptocurrencies have also rallied as a result, with some like $PEPE outperforming the wider market.
In addition to BlackRock’s recent filing, a survey conducted by the digital assets subsidiary of banking colossus Nomura, Laser Digital, revealed that a staggering 96% of professional investors who collectively manage close to $5 trillion are interested in investing in cryptocurrencies. Laser Digital’s CEO, Jez Mohideen, conveyed that the study reveals “that the majority of institutional investors surveyed saw a clear role for digital assets in the investment management landscape, and the benefits they can bring, such as greater diversification of portfolios.”
The survey encompassed 303 professional investors, and the data painted a clear picture: 82% of the participants expressed a positive outlook on both BTC and ETH, and 88% indicated that either they or their clientele are contemplating investments in cryptocurrencies.
BlackRock filed for a spot Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC), with popular cryptocurrency exchange Coinbase serving as its custodial partner for the fund. The move was followed by several large financial institutions filing for their own spot Bitcoin ETFs, including Invesco, WisdomTree, and more. This increased interest in cryptocurrency ETFs has generated excitement about the future of digital assets, and the potential for these funds to unlock enormous amounts of liquidity in the market for bitcoin.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Annie
Coincu News
Author
News
BlackRock’s Bitcoin ETF Bid Could Ignite $15 Trillion Crypto Revolution
Key Points:
- BlackRock intensifies foray into cryptocurrency with a spot Bitcoin ETF filing, potentially unlocking a $15T crypto boom.
- Laser Digital survey shows 96% of professional investors with $5T AUM are interested in investing in cryptocurrencies.
- Several large financial institutions, including Invesco and WisdomTree, file for their own spot Bitcoin ETFs.
BlackRock, the largest asset manager in the world with nearly $10 trillion in assets under management, has recently made moves to expand its presence in the cryptocurrency domain.
This development has sparked widespread interest and could potentially unlock a $15 trillion crypto boom. The firm filed for an exchange-traded fund (ETF) focused on the spot bitcoin market, which has already catalyzed a notable rise in bitcoin’s value, with the flagship cryptocurrency up nearly 20% over the past week. The broader cryptocurrency market has also rallied, now boasting a market capitalization of $1.17 trillion. Other cryptocurrencies like Ethereum ($ETH), $BNB, $XRP, and even meme-inspired cryptocurrencies have also rallied as a result, with some like $PEPE outperforming the wider market.
In addition to BlackRock’s recent filing, a survey conducted by the digital assets subsidiary of banking colossus Nomura, Laser Digital, revealed that a staggering 96% of professional investors who collectively manage close to $5 trillion are interested in investing in cryptocurrencies. Laser Digital’s CEO, Jez Mohideen, conveyed that the study reveals “that the majority of institutional investors surveyed saw a clear role for digital assets in the investment management landscape, and the benefits they can bring, such as greater diversification of portfolios.”
The survey encompassed 303 professional investors, and the data painted a clear picture: 82% of the participants expressed a positive outlook on both BTC and ETH, and 88% indicated that either they or their clientele are contemplating investments in cryptocurrencies.
BlackRock filed for a spot Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC), with popular cryptocurrency exchange Coinbase serving as its custodial partner for the fund. The move was followed by several large financial institutions filing for their own spot Bitcoin ETFs, including Invesco, WisdomTree, and more. This increased interest in cryptocurrency ETFs has generated excitement about the future of digital assets, and the potential for these funds to unlock enormous amounts of liquidity in the market for bitcoin.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Annie
Coincu News
Other Posts
Related Posts
News
Two Brothers Charged For Ethereum Blockchain Attack With $25 Million Stolen
Press Releases
The Sandbox Vietnam Partners with AI.Society to Propel the Web3 Frontier and Enrich the Metaverse Experience
News
LayerZero Sybil Bounty Event Will Be Launched With 15% Allocation For Fraudulent Addresses
News
Notcoin Distribution Will Take Place With 5% Token Supply To Promote TON Blockchain
News
Notcoin Exchange Deposits Ending Tomorrow! Withdrawals Resume Post-Listing!
Knowledge
US Election Predictions: The Effects And Importance Of The New US President
News
iOS Zero-day Exploit Discovered by Trust Wallet Is Causing Confusion Among iPhone Users
News
