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ALL From BlackRock

Bitcoin's $30,000 Support Shows Strength Amid Institutional Inflow and Regulatory Improvements

June 27 (Cointime) - Bitcoin has maintained the $30,300 resistance for the past three days, while gold reached its lowest level in three months. The recent price rally of Bitcoin has been attributed to BlackRock's spot Bitcoin exchange-traded fund (ETF) filing, as well as the ProShares Bitcoin Strategy ETF experiencing its largest weekly inflow in a year.

Cathie Wood’s ARK Says It’s First In Line for Spot-Bitcoin ETF

June 26 (Cointime) - Despite BlackRock’s recent filing, the ARK investment manager claims to be the first firm to receive approval for a spot bitcoin ETF. BlackRock's application includes a unique sharing agreement for exchange monitoring to prevent market manipulation, but ARK believes other applicants could easily amend their documents with similar agreements.

Bitcoin Slides 3% After Hitting One-Year High, NEAR Protocol's Token Surges 10% on Alibaba Cloud Partnership, Belgium Regulator Orders Binance to Cease Services

June 26 (Cointime) - Bitcoin has dropped by 3% to $30,300 after reaching a one-year high of over $31,300 on Friday. The recent 20% increase in Bitcoin's value over the past 10 days is believed to be due to BlackRock's filing to launch a spot Bitcoin ETF, which has encouraged large institutional investors to invest further in the cryptocurrency market. NEAR Protocol's NEAR token has increased by 10% after the company's foundation announced a partnership with Alibaba Cloud.

Blackrock's Spot Bitcoin ETF Threatens Grayscale's Dominance, Says Bernstein

June 26 (Cointime) - According to a research report by Bernstein, Grayscale's dominant position as the largest bitcoin asset management product may be threatened by Blackrock's filing for a spot bitcoin ETF in the US. Grayscale's BTC trust (GBTC) earns around $380 million in annualized fees despite being inefficient, illiquid, and trading at a significant discount.

Bitcoin Surges to One-Year High Above $31,000 Amid Growing Interest in ETFs

June 23 (Cointime) - Bitcoin has reached a one-year high above $31,000, continuing its surge from mid-June. The cryptocurrency's market capitalization is the largest and it has increased by nearly 4%, trading at $31,110 according to CoinDesk Indices. Over the past week, Bitcoin has risen by approximately 20%. BlackRock, the world's largest asset manager, recently applied for a spot ETF, which may have contributed to Bitcoin's recent surge.
NFT

BlackRock-Themed NFT Collection Sees $749K in Trading Volume, Creator Retains 10% Ownership

June 23 (Cointime) - A new NFT collection called BlackRock, inspired by the popular EtherRock collection and the branding of investment giant BlackRock, has already generated $749,000 in total trading volume. Despite BlackRock's recent filing for a Bitcoin ETF, the investment firm has no affiliation with the NFT project.

BlackRock's Bitcoin ETF Application Sparks Debate Over Traditional Finance's Role in Crypto

June 23 (Cointime) - BlackRock's application to launch a Bitcoin ETF has sparked debate in the crypto community, with some seeing it as validation for the industry while others raise concerns about traditional financial institutions entering the space. Critics suggest that BlackRock's filing could be part of a broader power shift favoring traditional finance firms in the crypto landscape.

Bitcoin Poised for Strongest Weekly Close Since March Amid Flurry of Spot ETF Applications

June 23 (Cointime) - Bitcoin is on track for its strongest weekly close since March, with several major financial institutions applying for a spot Bitcoin ETF. BlackRock's application has caused excitement in the crypto market, with analysts predicting it could reduce barriers for financial advisers to offer exposure to Bitcoin.

BlackRock Believes Institutional Adoption of DeFi is "Many, Many, Many Years Away"

June 23 (Cointime) - BlackRock, the world's largest asset manager, has filed for a spot Bitcoin ETF, leading to a surge in the cryptocurrency market. While BlackRock is optimistic about institutional adoption of crypto, it believes that institutional participation in decentralized finance (DeFi) is still many years away due to regulatory hurdles.

BlackRock Executive Says Digital Identity Infrastructure Critical for Institutional Involvement in DeFi

June 23 (Cointime) - Joseph Chalom, head of strategic partnerships at BlackRock, emphasized the importance of developing digital identity infrastructure for decentralized finance (DeFi) to attract large institutional players. However, this may contradict the privacy values of crypto natives. BlackRock's recent application to list a bitcoin exchange-traded fund (ETF) positions them as a potential industry leader, with greater influence over industry rules. Chalom stated that identifying counterparties is crucial for institutions like BlackRock to avoid legal repercussions, and called for a clear understanding of who is in a pool.