Don’t be naive — BlackRocks ETF wont be bullish for Bitcoin
Bitcoin Huwag maging walang muwang — ang ETF ng BlackRock ay hindi magiging bullish para sa Bitcoin Balita ng Ethereum ng Bitcoin There is no doubt that BlackRocks spot Bitcoin exchange-traded fund (ETF) application — and the flood of contenders that followed — has buoyed the bulls. It could signal the winds of change in the regulatory sphere, they say. It could bring Bitcoin exposure to the masses, they holler. While there might be some truth in these statements, we need to take a step back and look at the bigger picture. We should not be in a world where the mere possibility of a spot Bitcoin ETF coming to fruition in the United States sends markets into overdrive. BlackRock‘s potentially oversized impact on Bitcoin’s (BTC) price trajectory should give everyone in the Bitcoin community pause for thought rather than be a cause of celebration. A spot Bitcoin ETF would clearly be a simple way for U.S. retirement funds to gain exposure to Bitcoin‘s upside, and it’s very possible that an approved ETF in the U.S. would drive significant price appreciation in the years that follow. But what will it do to further Bitcoins cause — to decentralize finance, empower the unbanked and revolutionize how