{"id":80797,"date":"2023-06-27T10:03:24","date_gmt":"2023-06-27T07:03:24","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=80797"},"modified":"2025-09-11T19:08:32","modified_gmt":"2025-09-11T16:08:32","slug":"opinion-blackrocks-etf-could-be-a-turning-point-for-bitcoin","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/opinion-blackrocks-etf-could-be-a-turning-point-for-bitcoin\/","title":{"rendered":"Opinion: BlackRock&#8217;s ETF Could Be a Turning Point for Bitcoin"},"content":{"rendered":"<p>The filing <a href=\"https:\/\/u1f987.com\/en\/news\/blackrock-files-for-bitcoin-etf-launch\">of an application<\/a> by BlackRock for a spot Bitcoin-<span data-descr=\"exchange-traded fund\" class=\"old_tooltip\">ETF<\/span> could be a significant turning point in Bitcoin&#8217;s path to institutional recognition. This was stated by ARK Invest analyst Yassine Elmandjra in an interview with <a href=\"https:\/\/www.theblock.co\/post\/236415\/blackrock-etf-filing-could-be-turning-point-for-bitcoin-ark-says\">The Block<\/a>.<\/p>\n<p>In the expert&#8217;s view, the company&#8217;s decision to launch a spot ETF based on the leading cryptocurrency signals that major players view the digital asset&#8217;s long-term prospects positively.<\/p>\n<p>Following BlackRock, WisdomTree and Invesco also <a href=\"https:\/\/u1f987.com\/en\/news\/wisdomtree-and-invesco-file-applications-to-launch-bitcoin-etfs\">filed applications<\/a> with the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> to launch a Bitcoin ETF. The organizations had already <a href=\"https:\/\/u1f987.com\/en\/news\/sec-rejects-wisdomtrees-bid-to-launch-a-spot-bitcoin-etf\">tried to implement<\/a> the initiative in 2021.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWhile this looks very similar to previous ETF filings, BlackRock worked with Nasdaq to differentiate its proposal with a unique joint surveillance agreement designed to prevent the market-manipulation risk associated with Bitcoin,\u201d noted Elmandjra.<\/p>\n<\/blockquote>\n<p>In October 2021, Grayscale Investments <a href=\"https:\/\/u1f987.com\/en\/news\/dcg-chief-confirms-plans-to-convert-grayscales-bitcoin-trust-into-an-etf\">filed for the conversion<\/a> of its digital gold-based trust into a spot Bitcoin ETF. On December 17, the SEC <a href=\"https:\/\/u1f987.com\/en\/news\/sec-delays-decisions-on-bitwise-and-grayscale-bitcoin-etf-applications\">delayed<\/a> a decision on the application, and in February 2022 <a href=\"https:\/\/u1f987.com\/en\/news\/sec-delays-decisions-on-bitwise-and-grayscale-bitcoin-etf-applications\">again postponed<\/a> a date on this matter. On June 30, Grayscale <a href=\"https:\/\/u1f987.com\/en\/news\/grayscale-sues-sec-over-refusal-to-convert-gbtc-into-an-etf\">filed suit against the regulator<\/a> after a negative response.<\/p>\n<p>Bitcoin&#8217;s price rose above the $30,000 level on June 21, amid news from BlackRock.<\/p>\n<p>The Wall Street Journal editorial board <a href=\"https:\/\/u1f987.com\/en\/news\/wall-street-journal-criticises-sec-chief-over-bitcoin-etf-situation\">accused the SEC chair<\/a> Gary Gensler of a &#8220;confusing&#8221; approach to approving a spot Bitcoin ETF.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BlackRock&#8217;s filing for a spot Bitcoin ETF could be a significant turning point in Bitcoin&#8217;s path to institutional recognition, according to ARK Invest analyst Yassine Elmandjra.<\/p>\n","protected":false},"author":1,"featured_media":80798,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[865,1211],"class_list":["post-80797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blackrock","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/80797","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=80797"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/80797\/revisions"}],"predecessor-version":[{"id":80799,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/80797\/revisions\/80799"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/80798"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=80797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=80797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=80797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}