Bitcoin once ETF gets accepted

Crypto Rovers prediction seems pretty accurate
#BitcoinETFLaunch $BTC #etf #blackrocketf

BlackRock flags stablecoin exposure risks for Bitcoin ETF

NEW YORK - BlackRock Inc (NYSE:BLK)., the world's largest asset manager, has highlighted potential risks associated with stablecoins for investors in its proposed iShares Bitcoin ETF. The firm, currently waiting for the U.S. Securities and Exchange Commission's (SEC) review of its ETF, pointed out that fluctuations in stablecoin prices could impact the performance of the fund.

Stablecoins like Tether USD (USDT) and Circle USD (USDC) are designed to maintain a value equivalent to a specific asset or currency, typically the U.S. dollar. However, BlackRock noted that despite their intended price stability, past events have shown that these digital assets can still experience significant price movements, which in turn can affect Bitcoin's value.

The concerns stem from incidents involving Tether's operators on February 17, 2021, and October 15, 2021. They faced legal actions due to false claims about their reserves not being fully backed by U.S. dollars. As a result of these legal issues, Tether was ordered to stop engaging with New Yorkers and incurred penalties totaling $61 million.

More recently, on March 10, 2023, USDC experienced a deviation from its $1.00 peg when Circle Internet Financial revealed that a portion of its reserves amounting to $3.3 billion had been held at Silicon Valley Bank after it went into FDIC receivership. This incident raised concerns about the stability and reliability of stablecoins.

BlackRock has concluded that such indirect exposure to stablecoins could pose significant risks to investors in its Bitcoin ETF due to potential volatility, operational difficulties, possible manipulative practices, and regulatory challenges.
#etf #BTC #BlackRock #blackrocketf
$BTC $BUSD $USDC

BlackRock is buying more BTC

BlackRock continues to purchase the first cryptocurrency in order to back its spot BTC-ETF.

📣Now they have 16 on their balance sheet 361 BTC with a total amount of $707 million, which makes them one of the TOP 15 Bitcoin holders

#blackrocketf #BlackRock #BlackRockCrypto #BTCETF

🚨Breaking: BlackRock's Bitcoin ETF Shatters🤯💥💥💥🚀🚀

Records with 304,976 BTC Holdings! 🌟💰
In a stunning move,#Blackrock the world's largest asset manager, has amassed a staggering 304,976 $BTC for their spot Bitcoin ETF, valued at over $21 billion! 📈🚀 This monumental investment showcases BlackRock's unwavering confidence in the long-term potential of Bitcoin and the growing institutional demand for #cryptocurrency . 💪💡

As the crypto market continues to evolve, BlackRock's massive holdings could pave the way for broader adoption and mainstream acceptance of #Bitcoin . 🌍💸 With the backing of such a prominent financial institution, the future looks bright for the world's leading cryptocurrency. 🌠💎

#bitcoinetf #blackrocketf

#BlackRock⁩ has overtaken #Grayscale as the top crypto #ETF manager.
BlackRock now holds $21.2 billion in crypto ETFs, just ahead of Grayscale’s $21.2 billion.
This shift highlights BlackRock's growing influence in the cryptocurrency market, surpassing Grayscale in assets under management for cryptocurrency ETFs.

#blackrocketf #TrendingTopic