Is BlackRock changing the market for good?

Thought of the week

BlackRock’s entry into the world of digital assets, especially Bitcoin provides a fundamental strengthening of the markets. Price effects will not occur in the long term until the physical “Bitcoin ETF” is approved, but individual price increases from the news have already been seen. The limited supply with increasing demand could be a potential catalyst for the market in the future.

Digital Asset News

According to a July 7 letter from the U.S. Securities and Exchange Commission to a district court, Coinbase was aware of the likelihood that federal securities law would apply to the crypto exchange’s trades and openly informed its shareholders of the possibility that assets traded on the platform could be classified as securities.
“Since becoming a publicly traded company, Coinbase has repeatedly informed its shareholders of the risk that crypto assets traded on the platform could be classified as securities and that its own business activities could therefore violate applicable securities laws,” the Securities and Exchange Commission wrote accordingly.

The Association for Financial Markets in Europe (AFME), a European financial industry advocacy group, is calling for the inclusion of Decentralized Financial Services (DeFi) in the European Union’s (EU) recently adopted crypto regulations, known as Markets in Crypto-Assets (MiCA).
MiCA is considered the first comprehensive crypto law and is scheduled to take effect in December 2024. However, the crypto law excludes important aspects of the crypto industry, including DeFi and Non-Fungible Tokens (NFTs).
“As noted by the Financial Stability Board (FSB), while the current overlap between DeFi and traditional financial services (TradFi) is not significant at this time, it should be actively monitored and managed.”

Binance’s CEO sees Bitcoin’s next bull run being triggered by the coming halving, and also credits the entry of major players like BlackRock with catalyzing it. While he can’t see into the future, the Binance CEO predicts that the upcoming bitcoin halving in 2024 will be a key catalyst and that the following year, 2025, will then likely see the start of the next bull run:
#”The year after bitcoin halving usually brings the bull run.”
When asked what he thinks of BlackRock’s entry into the crypto industry – the influential asset management firm recently filed for a direct Bitcoin index fund (ETF) – CZ is positive, saying it is “extremely beneficial” for the crypto market.

BlackRock CEO Larry Fink has spoken positively on American television about Bitcoin
BTC though probably not entirely altruistically, as the influential asset manager has only recently applied for a “direct ETF” for the cryptocurrency in the US.
Fink made the relevant remarks to Fox Business on July 5, when he first elaborated that the role of crypto is a kind of “digitization of gold.” Therefore, American regulators should allow an index fund directly linked to Bitcoin to democratize access to the financial product.

Weekly overview

As usual, we are also providing detailed videos for those who want to delve deeper into the subject.


Mit dem Laden des Videos akzeptieren Sie die Datenschutzerklärung von YouTube.
Mehr erfahren

Video laden