BlackRock’s ETF news

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BlackRock, the world's largest asset manager, has been in the news recently for its activities related to cryptocurrency exchange-traded funds (ETFs). The company has been engaging with the U.S. Securities and Exchange Commission (SEC) about potential Bitcoin and Ethereum ETFs, which has sparked anticipation and boosted the prices of these cryptocurrencies267. In June 2023, BlackRock filed for a Bitcoin ETF, and the SEC is expected to make a decision on this and other similar applications soon2. The company has also revised its ETF model based on feedback from the SEC3. The potential approval of a Bitcoin ETF by a major player like BlackRock could channel significant institutional investment into Bitcoin1. BlackRock has also filed an S-1 form with the SEC, indicating its intention to introduce a spot Ether ETF. This move has created a positive market sentiment for Ethereum, leading to a notable price increase6. Some analysts have even predicted that the approval of BlackRock's Ethereum ETF could be a major catalyst for Ethereum's price to surge to $28,0005. In addition to its cryptocurrency ETFs, BlackRock is also reportedly preparing to launch an Industry Rotation ETF. This diversified fund could make dynamic adjustments and potentially attract significant investment due to BlackRock's scale and expertise8. The anticipation of these ETF approvals has contributed to a surge in the price of Bitcoin, which recently crossed $40,000 for the first time in 20237.
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thumbor.forbes.com