‘Open The Floodgates—Crypto Suddenly Braced For Volatility Amid $100 Billion Bitcoin And Ethereum Price Boom

Update under 26.06. This article was originally published on June 23rd.

Bitcoin BTC And Ethereum, the two largest cryptocurrencies, BlackRock added later this week. Black Bitcoin bombs (and partly because of China's surprise move).

Registration Now a Forbes CryptoAsset and Blockchain Advisor , he is successfully navigating the roller coaster ride of the Bitcoin and crypto market.

Bitcoin price surged above $30,000 per bitcoin, the same level as in March before the US-led crackdown on cryptocurrencies, while the bitcoin, ethereum and crypto markets rallied about $100 billion in just a week rose.

With BlackRock's range of exchange-traded funds (ETFs) now attracting a flurry of offers, New York-based cryptocurrency exchange Gemini founder, billionaire Cameron Winklevoss has warned of a "window" to buying Bitcoin before the "windows" of the cryptocurrency exchange Open ETFs. It means "quickly near".

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Cameron Winklevoss, along with his brother Tyler, turned to bitcoin and cryptocurrencies after falling out with Facebook CEO Mark Zuckerberg over starting the social media company. "The great bitcoin rally has begun," he tweeted.

“Anyone looking at the EFO application will see that the window to buy pre-IPO bitcoins is closing fast before the EFF kicks in and the floodgates open,” he wrote. Bitcoins. .

Update June 26: Late last week, the US Securities and Exchange Commission approved the first leveraged Bitcoin ETF. The Volatility Shares 2x Bitcoin Strategy ETF (BITX) is expected to go public on BZX Chicago tomorrow, June 27. options trading.

"It's great to see digital assets packaged in an ETF," said Stuart Barton, chief investment officer at Volatility Shares. Coindesk fuels expectations regulators could crack down on BlackRock's iconic ETF app.

"I think this could be a directional line that suggests the SEC might take a softer stance on bitcoin," said James Seifert, ETF analyst at Bloomberg Intelligence . Bloomberg .

Wall Street giant Invesco IVZ Wisdom Tree and Valkyrie followed BlackRock and filed their own bitcoin spot ETF with the US Securities and Exchange Commission. With nearly $10 trillion in assets under management, BlackRock offers hundreds of ETFs worldwide.

"While crypto still needs macro threats and institutional inflows into bitcoin, this is a good event that reminds investors that crypto is here to stay," wrote Markus Thielen, head of bitcoin. Research and strategy at Matrixport via email.

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The SEC has previously denied all applications for Bitcoin ETFs, but some believe BlackRock's attempt could be game-changing.

"We can expect this BlackRock iShares 'commodity' bitcoin ETF to attract distributions in the range of $20 billion to $50 billion over time as pure gold ETFs hold around $100 billion" , wrote Thielen.

“This Blackrock announcement is SEC-cleared and will propel further institutional investor adoption of Bitcoin.”

"Bitcoin nearing $2 million" - Michael Saylor