BlackRock Bitcoin ETF: The wolf enters the henhouse
Just as the US Securities and Exchange Commission (SEC) is hunting down Coinbase for allegedly flouting securities laws, BlackRock is requesting the SEC’s approval for a spot bitcoin ETF with Coinbase as its custodial partner.
It should be no surprise that BlackRock would choose to work with Coinbase for its ETF, as they have long been strategic partners. Still, the entry of old-world wealth into the bitcoin realm is raising red flags in the community.
blockworks.co/news/blackrock-bitcoin-etf-wolf
Institutional-scale bitcoin (BTC) investment in America — the dream of many early digital gold asset backers — is becoming a distinct possibility.
Blackrock:
* Runs first and largest BTC ETF
* Becomes wildly successful
* Heavily funds Bitcoin development
* Proposes “regulatory & eco friendly” PoS fork
* Loses community opinion but adopts fork as “Bitcoin” anyway (as do most govts)
* PoW fork just for pirates & El Salvador— Chris Blec (@ChrisBlec) June 16, 2023
Blackrock ESG fork of Bitcoin incoming t.co/xcrv0tiUPm
— Clark Moody (@clarkmoody) June 16, 2023
In 2017, CEO of BlackRock, Larry Fink, said: “Bitcoin just shows you how much demand for money laundering there is in the world."
Last week, BlackRock, $BLK, filed for a spot bitcoin ETF.
— unusual_whales (@unusual_whales) June 20, 2023
h/t pool