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BlackRock's Bitcoin ETF Filing and Wall Street's Involvement: Is There a Connection to SEC's Legal Action Against Binance and Coinbase?

June 21 (Cointime) - While many in the cryptocurrency community are excited about the involvement of major players in traditional finance, such as BlackRock, Fidelity, and Deutsche Bank, one observer is skeptical. He suggests that these Wall Street giants only became involved after the SEC took legal action against Binance and Coinbase.

However, there is no evidence to suggest that government regulators have purposely targeted top cryptocurrency platforms in the US to enable Wall Street firms to dominate the market.

The SEC recently dropped its request for a temporary restraining order against Binance.US, which could indicate a willingness to work with cryptocurrency exchanges. BlackRock's recent Bitcoin Spot ETF application has caused Grayscale's Bitcoin Trust to soar over 12%, and if approved by the SEC, it will provide an avenue for institutional investors to get exposure to Bitcoin.

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