BlackRock's Bitcoin ETF forms a strategic partnership with Coinbase.

Sanjana

BlackRock is expected to enter into a collaborative agreement with Coinbase, a prominent exchange, regarding a Bitcoin Exchange Traded Fund (ETF). The agreement would enable BlackRock to utilize Coinbase's Spot trading market values for its services with investors. It is worth noting that the United States' Securities and Exchange Commission (SEC) has historically been resistant to approving Bitcoin ETFs. However, the SEC has granted approval for Bitcoin Traded Fund applications from various institutions in the past.
BlackRock and Coinbase are anticipated to form a partnership for a Bitcoin Exchange Traded Fund (ETF). This collaboration would allow BlackRock to leverage Coinbase's Spot trading market values in its investor services. While the US Securities and Exchange Commission (SEC) has been hesitant about approving Bitcoin ETFs in the past, it has previously granted approval for similar applications from different institutions.

tarun

Despite recent denials of Bitcoin ETF applications by the SEC under the leadership of Gary Gensler, the overall sentiment regarding optimism remains uncertain. Some view this as a repetitive storyline reminiscent of 2020 and 2021 hehe, leading to speculation that the crypto news media may be recycling previous narratives.

Preetitusam

While previous ETF filings have often led to disappointment, it's important to approach the current situation with cautious optimism. BlockRock's involvement is a significant factor, given their status as a massive company with ample resources. This increases the likelihood that their ETF proposal will be successfully approved.

POOJA

This investment vehicle is actually a trust, similar to GBTC and GLD, rather than an ETF. However, from the perspective of users, the distinction is not significant.

Kunal

The significance of BlackRock's involvement in the rejected ETFs lies in their industry prominence and strategic decision-making. BlackRock's reputation and expertise make it unlikely for them to pursue an endeavor without a reasonable chance of approval. Additionally, the trust structure of the ETF increases its likelihood of approval compared to other formats.