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    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

    George Lopez is coming to Spokane – KXLY.com

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    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

    George Lopez is coming to Spokane – KXLY.com

    George Lopez is coming to Spokane – KXLY.com

    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

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    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

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    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

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    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    Wayve Expands Engineering Leadership to Power Next-Gen Autonomous Driving Technology – Silicon Canals

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    Frontdoor Announces Tech Expert Dr. Bala Ganesh as Chief Technology Officer – Business Wire

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    Defense technology giant Northrop Grumman to host interviews in Iuka to fill technician roles – supertalk.fm

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    China’s Military Introduces Mosquito-Sized Drones: A Game-Changing Surveillance Technology – Indian Defence Review

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    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

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BlackRock Sets a Milestone with Bitcoin ETF Filing: A Seismic Shift in Crypto Industry?

June 18, 2023
in Business
BlackRock Sets a Milestone with Bitcoin ETF Filing: A Seismic Shift in Crypto Industry?
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In a landmark move, BlackRock, the world’s most substantial asset manager, is ready to join the crypto bandwagon. Larry Fink, BlackRock’s CEO, has filed for a spot in Bitcoin ETF, an act that carries considerable weight in the crypto realm. Considering BlackRock’s towering stature with $10 trillion assets under management, this development could mark a significant turning point for cryptocurrency.

The context of this announcement is crucial. For years, the SEC has stubbornly refused to approve a spot Bitcoin ETF, a stance currently being contested in litigation with Grayscale. In spite of the SEC’s known objection, BlackRock has set its sights on a Bitcoin ETF listing on NASDAQ, underlining the scale of the shift in Fink’s attitude towards cryptocurrencies.

A Dramatic Change in Stance

This change in direction is monumental, considering Fink’s previous dismissive remarks about Bitcoin. Back in 2017, Fink referred to Bitcoin as an index of money laundering. In 2018, he declared that BlackRock’s clients had no interest in Bitcoin exposure, and BlackRock was not interested in offering it. Now, Fink is actively pushing for a Bitcoin ETF, a clear indication of how far the crypto landscape has shifted.

BlackRock’s Bitcoin ETF Application

Details of BlackRock’s Bitcoin ETF application show the firm’s commitment to this new venture. BlackRock has partnered with Coinbase, the largest U.S. crypto exchange, to submit an application for a spot Bitcoin ETF. The ETF would utilize Coinbase Custody for holding the Bitcoin and use the exchange’s spot market data for pricing.

Also Read – Coinbase Custody Secures BlackRock’s Trust for Spot-Bitcoin ETF, Signaling SEC Lawsuit Resolution Imminent

The approval of BlackRock’s Bitcoin ETF could lead to unprecedented impacts on the crypto market. As observed from the first gold ETF listed on the New York Stock Exchange in 2004, the approval led to a sustained surge in gold prices. If Bitcoin follows this trend, we might witness an extraordinary increase in Bitcoin prices, which could spark a market rally that lasts for years.

What’s more curious is that Bitcoin isn’t the only cryptocurrency that BlackRock is showing interest in. Fink has expressed interest in the utility of Ethereum and other cryptocurrencies, and the broader revolution of tokenization.

Read More

Tags: BlackRockbusinessMilestone
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