Institutions Are Falling Back in Love with BTC

Featured Story

train-2181576_1280

Bankless Writer: Jack Inabinet | disclosures

Over a dozen asset managers have sought the SEC’s regulatory blessing to launch some form of spot Bitcoin exchange-traded fund (ETF) over the years, but thus far, applicants have been met with little more than silence or rejection.

Just last week, however, BlackRock, the world’s largest asset management firm with over $9 trillion in AUM and a nearly impeccable ETF approval record, added its name to this list. Renewed hope has emerged that the spot BTC ETF status quo may be about to change and BlackRock’s proposed ETF is viewed by many as having a legitimate chance of gaining the SEC’s approval.

Markets are now signaling that BlackRock's application has increased the likelihood of other spot BTC ETF approvals. The market discount to net asset value (NAV) of the Grayscale Bitcoin Trust (GBTC) serves as a barometer for the likelihood of spot BTC ETF approval for them. Currently, this discount sits at a 2023 low of 33.5%.

via The Block

Today, we’re exploring the SEC concern that has held up every previous spot Bitcoin ETF application, discussing whether we just saw the next chapter of Operation Choke Point 2.0 play out, and answering the one question every degen is asking.  Story


Granite-Ridge-White-Large-1

Be gentle with your skin. Our soaps are kind to your skin and create a creamy, silky lather that is nourishing. Small batches are made by hand. We only use the best natural ingredients. There are no chemicals, phthalates, parabens, sodium laurel sulfate, or detergents. GraniteRidgeSoapworks

Use the code HNEWS15 to receive 15% off your first purchase.

Don't Miss

3/10/24: Crude Oil, Gold, and Other Commodities’ Closing Prices

By StevieRay Hansen

By SRH, In the stock market today, benchmark U.S. crude oil for April delivery experienced a decline of 92 cents, settling at $78.01 per barrel…

Loading

Read More

3/8/24: Steve Mnuchin, the Treasury Secretary Under Trump and Known for His Involvement in Foreclosures, Teams up With Hedge Fund Individuals To Acquire a Struggling Bank Backed by Federal Insurance for Just $2 per Share.

By StevieRay Hansen

By SRH, Steve Mnuchin, the former Treasury Secretary under Trump, has joined forces with his associates from his time as a foreclosure mogul at OneWest…

Loading

Read More

3/7/24: Wall Street Mega Banks Have Created a Circular Firing Squad with Credit Derivatives and Capital Relief Trades – with the Fed’s Blessing

By StevieRay Hansen

By Pam Martens and Russ Martens: On June 11, 2015, the Office of Financial Research (OFR) released a sobering report on how banks were reducing their requirements…

Loading

Read More

3/5/24: Watchdog, Better Markets, Investigates the Bank that Has Lost 65 Percent of Its Market Value in Two Months and Was Downgraded to Junk by Moody’s

By StevieRay Hansen

By Pam Martens and Russ Martens: The widely respected banking and Wall Street watchdog, Better Markets, has a new report out on the latest teetering bank holding…

Loading

Read More

3/4/24: Bank Failures Since 2009–The New Norm Banks Collapse

By StevieRay Hansen

Earlier in the year Silicon Valley Bank failed March 10 and then Signature Bank failed two days later, ending the unusual streak of more than…

Loading

Read More

StevieRay Hansen

In his riveting memoir, "A Long Journey Home", StevieRay Hansen will lead you through his incredible journey from homeless kid to multimillionaire oilman willing to give a helping hand to other throwaway kids. Available on Amazon.

Leave a Comment