ETF Mania - The Final Cycle for Bitcoin is Upon Us
We all have heard the news at this point that Blackrock has filed an application to launch a Bitcoin ETF. News broke today that Fidelity is reportedly (re)filing their application to launch a Bitcoin ETF.
Blackrock has a track record of getting 575 out of 576 ETFs approved by the SEC. Their success rate is literally 575 Wins and 1 Loss.
A lot of people seem to believe that Blackrock will have no problem getting this ETF approved. With their 8.59 Trillion in Assets Under Management (AUM), Blackrock wields influence that dwarfs most nations across the globe.
I also believe that they will get this ETF approved without too much headache.
Blackrock Partnering With Coinbase
Despite the SEC recently going after Coinbase, Blackrock is reportedly using Coinbase Custody to custody the BTC for their new ETF proposal.
This is a hilarious display of the disparity in the U.S.
While the SEC is taking actions against a company, the largest whale in the pond allowed them to hitch a ride right back into the castle.
If you can become a member of the good ol' boys club, then you can truly achieve whatever you want to achieve.
Blackrock is most definitely in this club and it seems that Brian Armstrong might be strong arming his way back in with a big brother on their side.
Battle of the ETFs
Blackrock filing their ETF has made major headlines over the weekend but now Fidelity is throwing their hat in the ring.
Fidelity has actually been crypto friendly for a while now. They have had digital assets on their platform for years. Originally, they allowed you to view the price of BTC, then they slowly added more features and eventually added digital asset trading.
With $4.3T in Assets under management, Fidelity is no small fish. They are going to make a big splash with their ETF.
Having two ETFs proposed by these monstrous financial corporations is going to be super interesting to watch play out.
The SEC has flushed out all the small players in crypto and cleared a path for their good ol' boys club members to to push right to the top of the stack.
What Happens Next?
As investors, we should always be eying our moves to take advantage of the sways in the market. BTC recently had a short dip below $25k. Did you buy?
Have you been dollar-cost averaging throughout this bear cycle?
I most definitely have been. My belief in Bitcoin has not changed even slightly over the last few months and years as the price has dropped.
The ebbs and flows of the market have created a lot of opportunity. Some are saying this is truly the final cycle for Bitcoin.
We could be on the verge of mainstream financial adoption for Bitcoin. A future where Bitcoin's market cap becomes trillions of dollars as all the big global players enter the market.
Building your portfolio now is going to be a pivotal moment.
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Will it finally pass? ETFs have been talked about FOREVER and I think only one seemed to slip through out of it all. Would make good for imitational investing again.
The news will surely create the positive effect on the crypto market. The bull run is not faraway. They have to accept the power of crypto and decentralization.
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While they have a good track record, I hope it'll eventually pass. The news has boosted morales once again.
Curious why these guys are calling this the final cycle.
I would disagree on this one though. As we slide towards the digitization era and the "tokenization of everything era" I believe the crypto markets and the abundance these will generate are going to only expand.
If BTC is about to become digital gold then why its price will stall?
Just look at how much potential AI has and take into consideration the fact that AI will use crypto, not cash and you will see that this is not the final cycle.
This take of such people reminds me of the guys saying back in 2019 that coins such as DOGE won't pump anymore because they lack fundamentals. I lost the opportunity of turning $1,200 into $500,000 by listening to such fuckers. ¨
Won't do that the same again...
Do you think a further drop in Bitcoin price is due?
Do you feel adoption by TRADFI and the ETF will be delayed?
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Anything is possible
The crypto market will turn wild if/when they get approved. A massive opportunity for BTC holders. We're getting closer to mainstream adoption!
Folks are missing the bigger picture here, thus is tokenization of everything from energy to the data that you consume everyday...
Please explain.
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I meant a decentralized society...
I think there are big advantages to such a society. But a lot of education would be needed so people can be active citizens.
Yes, we need to do lot of ground work there...
I'm slightly sceptical. ETF approval might move markets, but not as quickly and in the way cryptosphere expects and hopes for. Bitcoin always does it thing, often doing opposite of what most people expect.
I don't doubt that ETFs would ultimately do good for crypto in general, but in the long term.
Nah... this could be the top... like the ultimate hype point where BTC is really to tumble down to the lowest point.
But will SEC approve Blackrock ETF?... if they do, they just favoring elite institutions and wiping out retailers interest, so much for investor protection. HA!!!
Teally, I have heard the bottom is not in, because the miners have not capitulated. What do you think?
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If I were the suspicious type I might connect the dots between the destruction of crypto friendly banks, legal persecution of Kraken, Coinbase, Binance and the filing of a Blackrock ETF, the approval of the first Dealer Broker for the SEC approved and SEC compliant Digital Asset Exchange is all a planned TRADFI takeover of BITCOIN. As the destruction of the banks and exchanges leaves only Prometheum, Blackrock, Fidelity and Coinbase , maybe Gemini standing, and a lot of Bitcoin under TRADFI control.