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The CEO of the biggest asset manager in the world says that gold and cryptocurrencies are “assets of fear.” In a roundtable discussion at the Future Investment Initiative (FII) in Riyadh, Saudi Arabia, BlackRock CEO Larry Fink says that crypto assets are a legitimate investment for those who want to hedge against “optimism.” “If you believe that countries are going to continually debase their currency, if you believe that they’re is going to be global rise of insecurity… crypto assets or gold are assets of fear. You own these assets because you’re frightened of the debasement of your assets, you’re worried about your financial security, you’re worried about your fiscal security, and between crypto assets and gold, there’s a strong belief that it’s a good hedge against optimism.” In a separate interview with 60 Minutes, Fink says that after being initially skeptical of Bitcoin (BTC), he ...

After the landmark approval of Spot Bitcoin ETFs in early January, the new products have performed very well thus far. In particular, Grayscale’s Bitcoin ETF has dominated the field in terms of daily trading volume. However, for some time this week, BlackRock and Fidelity ’s Bitcoin ETFs were closing in on Grayscale in terms of DTV. As the market closed on Tuesday, BlackRock and Fidelity had generated $383 million and $288 million in trading volume, respectively, according to data from Yahoo Finance. Grayscale remained in first place again with $396 million. During the first hours of trading, however, BlackRock and Fidelity both led Grayscale in terms of daily volume. Also Read: Harvest Files First Spot Bitcoin ETF Application in Hong Kong The three Bitcoin ETFs have dominated over three-quarters of the trading volume of the product since it was approved. Others, such as spot bitcoin ETFs offered by Invesco and Galaxy, Franklin Templeton, and Ark Invest h...

Several potential issuers met with the SEC to discuss their spot Bitcoin ETFs, adding to hopes that harmonized approvals may be on the horizon.  The United States Securities and Exchange (SEC) held calls with spot Bitcoin ETF filers, including BlackRock, Valkyrie, ARK 21Shares, Franklin Templeton, Fidelity, VanEck, and Grayscale on Dec. 21 regarding their respective bids for investment vehicles that would hold crypto’s largest token. According to documents on the Commission’s website, issuers reportedly spoke with staff from the SEC’s divisions of corporation finance, trading, and market. Fox Business initially reported the news and noted multiple conversations between companies and the SEC. JUST IN: BlackRock had it's 6th official meeting with the SEC about its spot #Bitcoin ETF yesterday pic.twitter.com/j3MmrXm8vl — Bitcoin Magazine (@BitcoinMagazine) December 22, 2023 Filings at press time had confirmed SEC meetings with seven of 13 potential Bitcoin ET...

BlackRock Spot Bitcoin ETF: The Industry’s Concern The BlackRock filing did not come as a surprise to many as the investment giant has been showing bold support for the premier digital currency for a while now. The firm floated a Bitcoin price index back in September last year as one of its defined moves. advertisement The company is known as the biggest asset manager with about $10 trillion in Assets Under Management (AUM) and it has seen the crypto ecosystem as one of the new growth niches to diversify its capital. Despite the regulatory impasse in the US, BlackRock has launched a crypto ETF in Europe for its customers in the region. Despite these moves, the application for a spot Bitcoin ETF is considered a rather bold move seeing that the SEC has not approved a related product in the industry’s history.  While the regulator has approved the Bitcoin ETF products based on the futures price of the cryptocurrency starting with ProShares...