{"id":85806,"date":"2023-10-17T10:01:59","date_gmt":"2023-10-17T07:01:59","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=85806"},"modified":"2025-09-13T01:33:41","modified_gmt":"2025-09-12T22:33:41","slug":"blackrock-ceo-explains-bitcoin-rally-amid-news-of-etf-approval","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/blackrock-ceo-explains-bitcoin-rally-amid-news-of-etf-approval\/","title":{"rendered":"BlackRock CEO Explains Bitcoin Rally Amid News of ETF Approval"},"content":{"rendered":"<p>Bitcoin&#8217;s rally on unconfirmed news regarding the approval of a spot<a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-cryptocurrency-etf\"> ETF<\/a> from <a href=\\\"https:\/\/www.sec.gov\/files\/rules\/sro\/nasdaq\/2023\/34-98610.pdf\\\">BlackRock<\/a> points to \\&#8221;unmet demand for digital assets,\\&#8221; according to Larry Fink, the CEO of the filing company.<\/p>\n<p><iframe loading=\\\"lazy\\\" width=\\\"1275\\\" height=\\\"717\\\" src=\\\"https:\/\/www.youtube.com\/embed\/bIoXk3FHqus\\\" title=\\\"Larry Fink on Bitcoin ETF ? LIVE Fox Business\\\" frameborder=\\\"0\\\" allow=\\\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\\\" allowfullscreen><\/iframe><\/p>\n<p>On October 16, Cointelegraph <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-breaches-30000-on-rumors-of-blackrock-etf-approval\">reported<\/a> on the approval by the <span data-descr=\\\"Securities and Exchange Commission\\\" class=\\\"old_tooltip\\\">SEC<\/span> of a spot Bitcoin ETF. Amid the rumours, the price of the leading cryptocurrency rose above $30,000, but the post was later deleted. This was followed by a denial from the Commission, BlackRock itself, and other media.<\/p>\n<p>Having weathered turbulence, Bitcoin closed the day above $28,000. It began the week at around $27,150.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>\u201cPart of the rally extends far beyond the rumours. I think the jump is linked to investors fleeing to &#8216;quality&#8217;, given the problems surrounding the current Israeli war, global terrorism. More and more people are seeking to buy Treasuries, gold or cryptocurrencies. [\u2026] I am convinced that digital assets will play the same role,\u201d<\/em> Fink said.<\/p>\n<\/blockquote>\n<p>The senior executive declined to discuss the progress of the spot Bitcoin ETF application. The BlackRock CEO added that he had heard \\&#8221;from clients around the world about the demand for cryptocurrency\\&#8221;.<\/p>\n<p>In July, Fink said that investors could buy digital gold to hedge against inflation rather than precious metals.<\/p>\n<p>BlackRock <a href=\"https:\/\/u1f987.com\/en\/news\/blackrock-files-for-bitcoin-etf-launch\">filed<\/a> with the SEC a Bitcoin-based investment product on June 15. Following the financial giant, similar filings were made by<a href=\"https:\/\/u1f987.com\/en\/news\/valkyrie-seeks-to-register-a-spot-bitcoin-etf\"> Valkyrie<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/fidelity-investments-files-for-spot-bitcoin-etf\">Fidelity Investments<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/wisdomtree-and-invesco-file-applications-to-launch-bitcoin-etfs\">WisdomTree and Invesco<\/a>.<\/p>\n<p>So far, the regulator has issued no approvals for launching spot ETFs on digital gold. The Commission has made an exception for similar products based on futures for the first cryptocurrency from <a href=\"https:\/\/u1f987.com\/en\/news\/sec-quietly-approves-first-futures-based-bitcoin-etf\">ProShares<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/sec-approves-futures-based-bitcoin-etfs-from-vaneck-and-valkyrie-investments\">Valkyrie Investments<\/a>.<\/p>\n<p>Earlier in September, SEC Chair Gary Gensler <a href=\"https:\/\/u1f987.com\/en\/news\/gensler-says-sec-is-reviewing-bitcoin-etf-applications\">testified<\/a> that the agency continues to study<a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-surpasses-27500-after-court-ruling-in-grayscales-favour\">the court ruling<\/a> in the Grayscale case, as well as numerous applications for spot Bitcoin ETFs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CEO BlackRock Larry Fink: Bitcoin rally on unconfirmed news regarding the approval of a spot ETF signals &#8216;unmet demand for digital assets&#8217;.<\/p>\n","protected":false},"author":1,"featured_media":85807,"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":[480,865,569,1138],"class_list":["post-85806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-blackrock","tag-etf","tag-opinions"],"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\/85806","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=85806"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85806\/revisions"}],"predecessor-version":[{"id":85808,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85806\/revisions\/85808"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/85807"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=85806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=85806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=85806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}