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BlackRock's Bitcoin Trust Filing Could Boost Confidence in BTC, But Some Warn of Hidden Costs

BlackRock's filing for a Bitcoin trust is expected to boost investor confidence in the cryptocurrency, according to some industry experts. Galaxy Digital CEO Mike Novogratz called it "the best thing that could happen to $BTC."

The move is also seen as a vote of confidence in Bitcoin's status as a commodity rather than a security. However, others argue that BlackRock's entry into the space undermines the ethos of decentralised cryptocurrencies and could result in retail investors missing out on the rewards.

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1. As of July 25, BlackRock IBIT held more than 338,000 bitcoins, an increase of more than 1,092 bitcoins from the previous day.

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BlackRock's Bitcoin Trust Filing Could Boost Confidence in BTC, But Some Warn of Hidden Costs

All Comments

Recommended for you

Shenyu: The widespread existence of blind signature issues provides hackers with opportunities to take advantage of, and the problem must be solved

US CFTC: Federal court was "wrong" to allow Kalshi to launch prediction market

a16z releases 2024 State of Cryptocurrency Report, seven findings shed light on the current state of the crypto industry

The head of the Financial Supervisory Service of South Korea: We are investigating various abnormal transactions including AVAIL on Bithumb

76% of 80 family offices and high net worth individuals in Asia are involved in digital assets, and another 18% plan to invest in the future

Bank of America CEO sounds the alarm: The U.S. economy may lose its special status due to debt problems

Vitalik publishes new article on the future development of Ethereum protocol, key goals include achieving maximum L2 interoperability

ZachXBT: Suspected insiders made $3.8 million in profits on RTR

The U.S. Internal Revenue Service has released a new draft of the crypto tax form, which no longer requires filling in wallet addresses and transaction IDs

Cointime July 27th News Express

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