Unchained The Chopping Block: Is BlackRock’s ETF Proposal Breathing Life Into Bitcoin? - Ep. 510
Jun 24, 2023
Recent trends in the cryptocurrency market spark lively discussions among crypto insiders, with the surprising rise in institutional interest highlighted by BlackRock's Bitcoin ETF application. The hosts dissect why multiple financial firms jumped into ETF bidding simultaneously. They also question the implications of Prometheum’s controversial Congressional testimony and its shaky past. Additionally, the prospects of London emerging as a crypto hub and the challenges faced by exchanges add depth to the conversation.
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Renewed Institutional Interest
- BlackRock's Bitcoin ETF filing signals a potential shift in institutional interest.
- This counters previous gloominess about crypto's future in the U.S.
Coordinated ETF Applications
- Multiple ETF applications were likely prepared in advance, suggesting anticipation of Grayscale's lawsuit outcome.
- This coordinated filing indicates a strategic response to potential regulatory changes.
Grayscale's Potential Loss
- Grayscale, despite pushing for Bitcoin ETF approval, might not be the primary beneficiary.
- Their GBTC product, with its lack of redemptions and high fees, has been detrimental to investors.