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Being Client-Centric: The Driving Force Behind BlackRock's Bitcoin ETF Filing in 2023
BlackRock's decision to file for a Bitcoin ETF in 2023 was primarily driven by the readiness of the company and its clients. They had established the necessary technological foundations and believed they could offer a high-quality product that their clients desired. The company's focus on reducing friction and cost for its clients, coupled with the growing demand for such products, were key factors behind the decision to file for the ETF earlier than expected, despite the common belief that other companies like Van Eck or Grayscale would be the first to do so.