BlackRock's only unsuccessful ETF attempt dates back to almost a decade ago.
for a Bitcoin Spot ETF in the States alongside Coinbase, which will be the custodian for the funds.
The move had an immediate positive effect on BTC and its price, which jumped by over $2,000 in the first few days after the filing. The long-term consequences could be even more beneficial for the entire industry should that ETF be approved.to Eric Balchunas – Bloomberg’s senior ETF analyst – the chances are quite high, at least historically speaking.
Additionally, the SEC has now gone after multiple crypto exchanges and tokens, alleging that most assets are unregistered securities. Nevertheless, even its skeptic Chair – Gary Gensler – has admitted in the past that BTC is a commodity. In any case, BlackRock’s timing is quite intriguing, given the SEC’s overall negative stance toward the industry. Being one of the most influential financial players, though, it begs the question of whether BlackRock knows something we don’t that will help it continue with its spectacular success rate or if it will register its second L.
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