I think someone will get very hurt. This is the pattern, many people buy shares and bitcoin goes through the roof.
Then someone goes to BlackRock and says... excuse me since you have a lot of BTC here, could you lend them to me to make a short?
BlackRock: yes, they certainly aren't ours anyway... and we haven't taken any position.
( very ) Big Short
Fear...
The short closes.
Ultra minimal BTC prices..
Some Gentlemen are back from BlackRock, good evening, we are here to close the short and return the BTC you gave us.
By paying a modest sum... will we be able to keep them?
BlackRock: yes of course, given the amount for you the commissions are not 0.1% but 0.01%.
Great, but you need to remove the ability to borrow BTC with trust assets.
Topic: BLACKROCK SPOT ETF DISCUSSION - page 2. (Read 259 times)
The US is playing double gaming at this stage. At one side SEC Charges on Binance and Coinbase and on the other side SEC are in the favor of approving Blackrock spot ETF. Let go a little deep in this matter. When People Withdraw funds from both these big exchanges then the trader will use this fund in other sources but the US doesn't want these funds to go off shore (out of the US).
You are totally right about double game, i had also wrote many times that they just want their rival to be out from the competition and by doing that they also want to get their users too. But i think by launching these ETFs they cannot get all of those users because most of the users had already moved to decentralized exchanges and wallets. when they sued both Binance and coin base then the effected users moved to DEXs. Even when the SVB bank was bankrupted then the customers migrated to use of DEXs. so i do not think there would be left any to attract towards ETFs. but still many stock traders do want to invest in BTC ETFs plus those who are traditional traders and still didn't bought any BTC. Well, let's see what happen i think if Block Rock ETFs got accepted then we might see BTC at around $40k it's just my speculation. Like the yesterday news of XRP only put great positive impact on the market so i think Block Rock ETFs approval deserves to put more impact on the market.
BlackRock the world's largest asset(10 trillion funds) manager is interested in the Bitcoin Spot ETF. If we check the history of Blackrock track record then they have applied for 575 ETF and only one rejected previously. No one has power to stop Blackrock. I was watching video where one Youtuber claims that whenever the USA wants one country to go up they ask Blackrock to invest and vice versa l
The US is playing double gaming at this stage. At one side SEC Charges on Binance and Coinbase and on the other side SEC are in the favor of approving Blackrock spot ETF. Let go a little deep in this matter. When People Withdraw funds from both these big exchanges then the trader will use this fund in other sources but the US doesn't want these funds to go off shore (out of the US). Now the US wanted an alternative system for crypto exchange so if anyone wants to invest in btc then instead of using crypto exchange, the alternative way of buying given to these traders. The block rock is looking the part of this plan and it looks like Blackrock has received any green signal from the US Government before applying. Blackrock wants, no exchange to survive in the US and traders choose ETF for investing because if people use exchange then they will withdraw BTC to own wallet(hard or soft) and US have no control on it but if they invest in ETF then then they have full control over it.
Pros:
If Blackrock is able to launch the Bitcoin ETF successfully, many of its competitors(JP MORGAN, Fidelity and many others) will also apply and then big Banks will also apply.
This will increase awareness of BTC among big traders because the stock media will share this
Many big traders which are already in the field of stock market and didn't has knowledge of crypto exchange will be able to buy btc
Highly chance of btc price pump in the short term.
Cons:
People will not hold real btc because ETFs could not be called real Bitcoin holders. Etf trader are not holding any btc in their wallet. An ETF is just a contract in the form of paper.
If prices increase then these big asset managers can dump the market to stable Price. This will decrease the interest of crypto users. In short the growth in price will be very slow just like gold
Bitcoin will not remain totally decentralized and the Government will be able to control it.
They also said that we will not be bound by the rules of Satoshi which he mentioned in whitepaper that's mean in case of Bitcoin fork they can choose any chain for their price backup.
What you think about this? Is Balckrock ETF should be approved
If it's approved, which platform(Crypto exchange or ETF) will you support and why?
The US is playing double gaming at this stage. At one side SEC Charges on Binance and Coinbase and on the other side SEC are in the favor of approving Blackrock spot ETF. Let go a little deep in this matter. When People Withdraw funds from both these big exchanges then the trader will use this fund in other sources but the US doesn't want these funds to go off shore (out of the US). Now the US wanted an alternative system for crypto exchange so if anyone wants to invest in btc then instead of using crypto exchange, the alternative way of buying given to these traders. The block rock is looking the part of this plan and it looks like Blackrock has received any green signal from the US Government before applying. Blackrock wants, no exchange to survive in the US and traders choose ETF for investing because if people use exchange then they will withdraw BTC to own wallet(hard or soft) and US have no control on it but if they invest in ETF then then they have full control over it.
Pros:
If Blackrock is able to launch the Bitcoin ETF successfully, many of its competitors(JP MORGAN, Fidelity and many others) will also apply and then big Banks will also apply.
This will increase awareness of BTC among big traders because the stock media will share this
Many big traders which are already in the field of stock market and didn't has knowledge of crypto exchange will be able to buy btc
Highly chance of btc price pump in the short term.
Cons:
People will not hold real btc because ETFs could not be called real Bitcoin holders. Etf trader are not holding any btc in their wallet. An ETF is just a contract in the form of paper.
If prices increase then these big asset managers can dump the market to stable Price. This will decrease the interest of crypto users. In short the growth in price will be very slow just like gold
Bitcoin will not remain totally decentralized and the Government will be able to control it.
They also said that we will not be bound by the rules of Satoshi which he mentioned in whitepaper that's mean in case of Bitcoin fork they can choose any chain for their price backup.
What you think about this? Is Balckrock ETF should be approved
If it's approved, which platform(Crypto exchange or ETF) will you support and why?
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