BlackRock CEO Larry Fink wants to collaborate with regulators and address any concerns they may have regarding BlackRock's recent filing for a spot bitcoin exchange-traded fund (ETF). He believes that bitcoin, the largest cryptocurrency, serves as a digital version of gold.
Fink emphasized the importance of working closely with regulators and listening to their feedback on the filing. He aims to democratize cryptocurrency by making it more accessible and affordable for investors. Currently, the high bid-ask spread for crypto reduces returns, and Fink hopes that regulators will view these filings as a means to democratize the crypto market.
Nasdaq recently resubmitted a form for BlackRock's iShares Bitcoin Trust, following the U.S. Securities and Exchange Commission's request for clearer and more comprehensive filings for spot bitcoin ETFs. The updated filing includes plans for surveillance sharing agreements with Coinbase.
While Fink considers bitcoin a valuable asset for international investment and alternative options, he clarified that he does not personally own any bitcoin.
BlackRock initiated the filing for the bitcoin ETF on June 15, with other asset managers like Fidelity quickly following suit. Following these developments, the price of bitcoin has risen by 19% over the past month, according to CoinGecko.
RISK DISCLOSURE: ⚠️
Digital payment token investments, such as cryptocurrencies, are not guaranteed by service providers or cryptocurrency exchanges and the government. It is crucial to exercise caution in investing, including the awareness that a part or all of the capital may be lost and may not be recovered, especially in cases of high price volatility or down market, bankruptcy, seizures and other factors. Hence, the user’s risk tolerance, investment appetite or capacity for loss should be set firstly, and they should observe safe and knowledgeable investment practices accordingly. For more information, please visit MAS' website.
IMPORTANT NOTE: 📢
Coinut.com is a financial entity regulated as a Money Services Business in Canada and an exempt entity under the Payment Services Act in Singapore. Please be reminded that cryptocurrency trading is highly risky and is not suitable for the general public. For more information, please refer to Risk Warnings and Risk Statements.
