Discover more from The Gems Corner
Institutions takes the front seat
Blackrock, et al. takes a bold move
It’s the 19th edition of Gems Corner. Today, we’ll examine Bitcoin ETFs and the institutions taking a bold leap into crypto.
Enjoy the gems.
Maybe you’ve heard about Bitcoins ETFs on Twitter or TV and wondering what it really means. Well, I’ll break it down here for you.
First, ETF is an acronym for exchange-traded funds. Bitcoin ETFs expose retail investors to Bitcoin without owning or trading it. It's mainly offered on traditional exchanges by brokerages.
However, since TradFi is highly regulated, institutions that want to start trading Bitcoin ETFs must get a license from the relevant regulatory authorities. The United States has yet to approve spot Bitcoin ETF - backed by Bitcoin.
Over the past two weeks, we have seen an influx of Bitcoin ETF filings from the world’s largest asset management firms like Blackrock, WisdomTree, Invesco, and Valkyrie.
The exciting thing about Blackrock's filling is that they'll partner with Nasdaq in a surveillance-sharing agreement to mitigate manipulation. Looks cool to me.
Although the fillings look coordinated as it's coming immediately after SEC recently sued Binance and Coinbase. Seems like the TradFi dudes want a pie of crypto fees after all, even though they've been criticizing it for a while.
But on the bright side, it means massive Bitcoin/crypto adoption. Once approved, Blackrock & the others will educate millions of retail consumers on allocating a portion of their portfolio to crypto. This will increase consumer interest in other crypto products.
Apart from that, I think it's gonna trigger the next cycle faster than we think. BTC's price action will reflect this in the days and months to come.
Winter is here, fren; Bitcoin ETF is a huge catalyst for the bull run.
Chart of the Week
BTC broke $30k this week, restoring retail investors’ hope in the market while signaling light at the end of the tunnel. Would it be ‘up only’ onwards? Time will tell.
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Thanks for reading!
Until next Friday,
PS: I’d love to hear your feedback and comments.