Is Blackrock About To Trigger the Next Bull Run? (Or Are We Getting Our Hopes Up?)

TL;DR

• Bitcoin spot ETFs don’t exist in the US yet. And it's not for lack of trying - Gemini and Grayscale have both tried to get ​blockchain​ ETFs approved.

• Now BlackRock, a company with 9.5 TRILLION DOLLARS under management, is rumored to be trying its hand at launching a US Bitcoin ETF.

• If you're a Bitcoin holder, this is a big deal! Even a 1-2% allocation of total funds from BlackRock could have MASSIVE effects on the BTC price.

• That said, a 1-2% allocation would also lead to BlackRock owning ~20% of all the Bitcoin in existence, at today's prices. (Allowing BlackRock to hoard all of the available coins).

Full Story

Have you ever befriended someone who owns a boat?

It's awesome! You get all the benefits of owning one, without the management and upkeep.

That's kind of how Exchange Traded Funds (ETFs) work.

The fund buys a bunch of some 'thing' - let's say, Bitcoin - then investors can buy shares in the fund.

(So they end up owning Bitcoin by proxy).

The benefit is, the ETF shareholders don't need to figure out how/where/when to buy/sell/store the Bitcoin.

(The fund managers do all of that for them).

Only problem with this example is:

This kind of Bitcoin ETF doesn't exist in the US.

And it's not for lack of trying - Gemini and Grayscale have both tried to get ​blockchain​ ETFs approved by the SEC, but neither have found success.

Now BlackRock, a company with 9.5 TRILLION DOLLARS under management, is rumored to be trying its hand at launching a US Bitcoin ETF.

...ok, who cares?

If you're a Bitcoin holder, this is a big deal!

Even a 1-2% allocation of total funds from BlackRock could have MASSIVE effects on the BTC price.

...that said, a 1-2% allocation would also lead to BlackRock owning ~20% of all the Bitcoin in existence, at today's prices.

The upside: Bitcoin could go up, significantly. The downside: Bitcoin could go up significantly, and price most people out of owning a meaningful amount of BTC.

(Allowing BlackRock to hoard all of the available coins and kind of own the market).

Either way, a BTC spot ETF in the US would be great news for Bitcoin!