• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
BlackRock Bitcoin ETF

BlackRock Bitcoin ETF: Good Or Bad? What Are The Chances? Experts React

Jake Simmons
by Jake Simmons
2 years ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The rumor has come true: The world’s largest asset manager, BlackRock, has filed a Bitcoin spot ETF application with the US Securities and Exchange Commission (SEC). For custody and market price data, BlackRock is choosing Coinbase, despite the SEC lawsuit. And while the news sounds extremely bullish for the BTC price, the community is wondering whether BlackRock’s entry into Bitcoin is good or bad.

For many years, a Bitcoin spot ETF has been seen as the holy grail for Bitcoin in the US to attract huge amounts of new capital. So far, various asset managers have cut their teeth at the SEC when it comes to Bitcoin spot ETFs.

The SEC however has a long history of denying spot ETFs citing concerns about market manipulation and the lack of a surveillance-sharing agreement between a “regulated market of significant size” and a regulated exchange

11/ pic.twitter.com/yqwhy3wLT3

— thiccy (@thiccythot_) June 16, 2023

What Are The Chances For A BlackRock Spot ETF?

Although there are already future-based ETFs in the US, these do not require the settlement of “real” Bitcoin, as they are simply settled in cash. A spot ETF, on the other hand, promises significant inflows. As Joe Consorti, market analyst at The Bitcoin Layer, explains, the “floodgates for institutional liquidity” could finally open.

Therefore, everyone wants to be the first to get approval from the SEC, as was the case with gold in 2004. And given its reputation, BlackRock has the “highest likelihood” of any previous attempt to get a spot ETF approved, as Consorti notes. BlackRock is the most powerful and best politically connected asset manager in the world.

Related Reading: BlackRock Edges Closer To Bitcoin ETF Filing

Obviously, it will make a difference whether the Winklevoss twins or Grayscale file a spot ETF application or the world’s largest asset manager, led by Larry Fink. For SEC chairman Gary Gensler, however, the application comes at the worst possible time.

A refusal by BlackRock is also likely to be more difficult for Gensler. Messing with Blackrock and incurring even more trouble because of the flimsy justification for a Bitcoin ETF rejection would not be politically smart for the agency. ETF expert Eric Balchunas added: 

Fun fact: BlackRock’s record of getting ETFs approved by the SEC is 575-1. That’s another reason this is so big, they don’t play around.

BlackRock’s partnership with Coinbase is an interesting point, however, which is likely to make Gensler sweat. Nevertheless, a Bitcoin spot ETF application has probably never had a greater chance of “opening” the floodgates to institutional capital.

Good Or Bad For Bitcoin?

Apart from the money inflows, the critical voices in the community are nonetheless multiplying, also because BlackRock is in fact the purported “enemy”. The renowned analyst Pentoshi writes:

Everyone before: We hate blackrock, we hate the suits, screw the system, they are frauds

Everyone down 99%: Wow blackrock is getting in. This is great! In 2 years I might only be down 90%!

Analyst and co-founder of Reflexivity Research, Will Clemente, meanwhile, states that it is “undeniable” that Operation Chokepoint 2.0 was orchestrated when BlackRock “to drive out domestic crypto companies and bring in big traditional companies that are friends with the US government to try to control Bitcoin/crypto” if BlackRock gets the approval by the SEC.

Related Reading: Celsius Cleans House: All Altcoins To Be Sold For Bitcoin And Ethereum

Bitcoin educator Anil (@anilsaidso) has examined BlackRock’s ETF application and found a “hidden gem” in the ETF submission. According to the document, in the event of a hard fork, BlackRock has the discretion to decide which network it deems suitable. Moreover, there is no guarantee that BlackRock will choose the fork that is ultimately the most valuable.

A hidden gem in the BlackRock ETF filing.#GetForked https://t.co/tER6xxZPui pic.twitter.com/Qdt8BZ2OEZ

— Anil ⚡ (@anilsaidso) June 15, 2023

It is unclear when the SEC will decide on the application. The SEC has up to 240 days to make a decision and has always exhausted this time in recent years. If so, a decision would come in mid-February 2024, remarkably just one month before the Bitcoin Halving.

At press time, the BTC price stood at $25,552, recapturing the 200-day EMA (blue line).

Bitcoin price
BTC price recaptures 200-day EMA, 1-day chart | Source: BTCUSD on TradingView.com
Featured image from Reuters, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Jake Simmons

Jake Simmons

Follow

Jake Simmons has been a Bitcoin enthusiast since 2016. Ever since he heard about Bitcoin, he has been studying the topic every day and trying to share his knowledge with others. His goal is to contribute to Bitcoin's financial revolution, which will replace the fiat money system. Besides BTC and crypto, Jake studied Business Informatics at a university. After graduation in 2017, he has been working in the blockchain and crypto sector. You can follow Jake on Twitter at @realJakeSimmons.

Full Profile

Related Posts

bitcoin

Sora Ventures Unveils Asia’s First Bitcoin Treasury Fund With $1 Billion Buying Plan

21 hours ago
Bitcoin

Looking For A Good Bitcoin Entry? Crypto Research Firm Reveals The Best Time To Buy BTC

1 day ago
Bitcoin Buying Frenzy Ahead As Eric Trump Predicts ‘Floodgates Are Opening’

Bitcoin Buying Frenzy Ahead As Eric Trump Predicts ‘Floodgates Are Opening’

1 day ago
Bitcoin Holdings By Public Firms Cross 1 Million BTC As Asset Gains Traction

Bitcoin Holdings By Public Firms Cross 1 Million BTC As Asset Gains Traction

1 day ago
Bitcoin Mining

Bitcoin Miners Brace For 5% Difficulty Spike To Fresh Record

1 day ago
The Bitcoin Liquidity Battle Intensifies: Coinbase vs. Kimchi Premium

The Bitcoin Liquidity Battle Intensifies: Coinbase vs. Kimchi Premium

1 day ago

Premium Sponsors

Press Releases

  • miner

    XRP price battles for key support levels, with holders...

    5 hours ago
  • miner

    Global Investors Tap BAY Miner App for BTC and XRP Monthly...

    5 hours ago
  • Cloud Mining

    From Holding to Profit: How XRP Earns $27,000 Daily from...

    9 hours ago
  • minwer

    XRP Holders Can Earn $10,000 a Day Through COME...

    1 day ago
  • BTC prices hit a two-week high, and holders flocked to GMO...

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.