BlackRock CEO Larry Fink Sees Increasing Demand for Crypto Among Gold Investors
BlackRock CEO Larry Fink has noted an increase in demand for cryptocurrency among gold investors. In an interview with CNBC, Fink stated that more and more gold investors have been asking about the role of crypto over the past five years, and that exchange-traded funds (ETFs) could democratize access to cryptocurrency in the same way they have with gold.
Mike Novogratz: Approval of Bitcoin ETF Would Be "Seal of Approval" from US Government
Mike Novogratz, founder of crypto investment firm Galaxy Digital, believes that the approval of a spot Bitcoin ETF by the SEC would be a "seal of approval" for Bitcoin from the US government. He also sees the multiple ETF filings, including one from BlackRock, as a signal that adoption is coming.
Former SEC Chairman Believes Bitcoin ETF Approval Hinges on Efficiency and Effectiveness
According to former SEC chairman Jay Clayton, a Bitcoin ETF could be approved if it can demonstrate its effectiveness as an investment vehicle for digital assets. However, Clayton did not provide a timeline for approval. He suggested that if the Bitcoin spot market had similar investor protections and oversight measures as the futures market, it would be challenging for the SEC to reject a proposed ETF.
Charles d'Haussy of dYdX Foundation Discusses Future of Bitcoin ETF and Ethereum Platform
Charles d'Haussy from the dYdX Foundation shares his thoughts on the future of the platform after Ethereum and regulatory trends, with a focus on the possibility of a bitcoin ETF. The layout of a website is discussed in a code block, with a table displaying the CoinDesk Market Index and prices for various cryptocurrencies and financial assets.
BlackRock's Interest in Bitcoin ETF Boosts Confidence in Cryptocurrency's Future
Bitcoin faced selling pressure near the $30,202 threshold, possibly due to the release of the FOMC minutes. However, positive remarks from BlackRock's CEO, Larry Fink, about Bitcoin's potential have helped mitigate further declines and raised questions about its potential for a rebound. BlackRock's interest in a Bitcoin ETF has further bolstered confidence in Bitcoin's future, potentially increasing liquidity and stability in the market. Bitcoin trading volume on multiple exchanges surpassed $4.2 trillion in the first half of 2023, indicating increased interest from institutional and retail investors and potentially signaling a revitalized market. Bitcoin is currently holding steady around the $30,000 level, with resistance at approximately $31,400 and support around $29,600. A decisive close above the $29,600 level could trigger a bullish movement, while a clear break below it could lead to support around $28,450 and potentially even lower towards $27,450. It is recommended to monitor the $29,600 level as a key pivot point for today's trading activities.
Spot Bitcoin ETF Applicants to Meet US SEC Next Week
BlackRock, Fidelity Investments, and other applicants for a spot Bitcoin ETF will meet with the U.S. Securities and Exchange Commission (SEC) next week. The meeting follows the refiling of their applications with the SEC, which now include details of their surveillance-sharing partners.
BlackRock CEO Larry Fink Open to Hearing Regulators’ Concerns About Bitcoin ETF Filing
Larry Fink, CEO of BlackRock, has expressed his willingness to work with regulators and address any concerns they may have regarding the asset manager's recent filing for a spot bitcoin ETF. Fink also stated that he sees bitcoin as a means of "digitizing gold" and hopes that regulators will view the filings as a way to democratize crypto.
Analysts from Bernstein Believe Chances of Spot Bitcoin ETF Approval in the US are High Despite SEC's Stance
July 4 (Cointime) - According to analysts from Bernstein, there is a relatively high chance of a spot Bitcoin ETF being approved in the US, despite the Securities and Exchange Commission's (SEC) tough stance on the matter. The SEC has previously approved futures-based Bitcoin ETFs, which derive their value from Bitcoin futures contracts, from regulated exchanges such as the CME.
Only a Few Contenders Will Be Successful in the Bitcoin ETF Race, Says Bitwise’s Hougan
July 3 (Cointime) - Matthew Hougan of Bitwise warns that only a select few of the growing list of contenders vying for approval from the US SEC to launch a spot bitcoin ETF will wind up being successful. "ETFs are generally a 'winner takes most' market," Hougan told The Block. The firm that is first to market typically snags the most assets under management. Thus far, financial market titans Fidelity and BlackRock have filed alongside smaller brands like Valkyrie Investments, WisdomTree, and Invesco.
Gemini CEO Criticizes Grayscale Bitcoin Trust as SEC Denies Spot Bitcoin ETF Application for 10 Years
July 2 (Cointime) - Gemini CEO Cameron Winklevoss has criticized the Grayscale Bitcoin Trust (GBTC) on Twitter, calling it a "toxic product." He also expressed frustration with the SEC's rejection of Gemini's application for a spot Bitcoin ETF 10 years ago, which he believes has deprived US investors of the opportunity to participate in one of the best-performing assets of the past decade.
