• Home
  • About Us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
23 September Saturday, 2023
TurkishNY Radio
  • Home
  • Business
  • Economy
  • Cryptocurrency
No Result
View All Result
  • Home
  • Business
  • Economy
  • Cryptocurrency
No Result
View All Result
TurkishNY Radio
No Result
View All Result
Home Cryptocurrency

BlackRock’s Spot Bitcoin ETF Filing Ignites Interest, Potential Impact Analyzed

Lois Zaytsaw by Lois Zaytsaw
24 July 2023
in Cryptocurrency
Reading Time: 2 mins read
0
BlackRock's-Spot-Bitcoin-ETF-Filing-Ignites-Interest,-Potential-Impact-Analyzed

The world’s largest asset management company BlackRock made headlines last month by filing a spot Bitcoin ETF application with the US Securities and Exchange Commission (SEC). This move sparked a rise in interest in Bitcoin investment products. New York Digital Investment Group (NYDIG) recently released a research report exploring the potential game changing effects of a spot Bitcoin ETF approval in the US market.

Current Status of Spot Bitcoin ETFs and their Benefits

While spot Bitcoin ETFs are already available as investment products in several different locations around the world they have yet to be introduced in the US market. According to NYDIG’s research the total value of assets invested in Bitcoin investment products worldwide is estimated to be around $28.8 billion with $27.6 billion coming from spot investment products.

YOU MAY BE INTERESTED

Frontier-(-FRONT-)-WEEKLY-ANALYSIS-AND-PRICE-PREDICTION

FRONTİER (FRONT) Coin Overview and Weekly Technical Review:

31 July 2023
Turks'-Favorite-Metaverse-Coin-Announced-Giant-Partnership2

Turks’ Favorite Metaverse Coin Announced Giant Partnership!

31 July 2023

As a result of the participation of well-known companies like BlackRock and iShares as well as greater investor protection NYDIG underscores the main advantages of a spot Bitcoin ETF. The research also mentions that using brokers is anticipated to make it simpler to trade, record positions, closely watch risk and pay taxes. A spot Bitcoin ETF is probably going to offer better liquidity, fewer tracking errors and perhaps lower costs than alternative choices like private funds or trusts .

ADVERTISEMENT

BlackRock's-Spot-Bitcoin-ETF-Filing-Ignites-Interest,-Potential-Impact-Analyzed2

ADVERTISEMENT

Bitcoin and Gold Comparison and Potential Inflow

In an interesting comparison between Bitcoin and gold NYDIG points out that only $28.8 billion has been invested in Bitcoin funds compared to over $210 billion in gold ETFs worldwide . Bitcoin is not yet as popular or held by many central banks as gold but its supply is held in various funds to a greater extent (4.9%) than that of gold (1.6%). According to NYDIG the approval of a spot Bitcoin ETF could lead to an increase in Bitcoin value of about $ 30 billion.

ADVERTISEMENT

Differing Opinions on the Impact of Spot Bitcoin ETFs

While NYDIG is optimistic about the potential positive impact of a spot Bitcoin ETF some market players hold a different view. JPMorgan released a report stating that spot Bitcoin ETFs may not have as significant an impact on the market as anticipated . They argue that spot Bitcoin ETFs have not performed exceptionally well in overseas markets and see no reason why they would fare differently in the US.

BlackRock’s filing of a spot Bitcoin ETF application has generated significant interest in Bitcoin investment products . NYDIG’s research report highlights the potential benefits of a spot Bitcoin ETF including improved investor protection, increased confidence and better trading capabilities.

ShareTweetSharePinSend
Previous Post

Linda Xie Net Worth: A Leading Investor and Advocate for Blockchain Innovation

Next Post

Russian Authorities Strengthen Control Over Cryptocurrency Transactions as Chikhanchin Challenges Anonymity Claims

Lois Zaytsaw

Lois Zaytsaw

Content Editor, News Meet Lois, a dynamic Crypto, Blockchain, and Finance Writer/Journalist based in the bustling metropolis of New York City. With a passion for technology and a keen understanding of finance, Lois has been covering the latest developments in the world of cryptocurrency and blockchain for several years. Her insightful articles have been featured in numerous leading publications, including The Wall Street Journal, Bloomberg, and CryptoBriefing. Lois' fascination with blockchain and cryptocurrency began during her time as a student at university, where she studied economics and computer science. She was drawn to the disruptive potential of blockchain technology to revolutionize the traditional financial industry, and since then, she has been following the latest trends and innovations in the space.

SIMILAR NEWS

Frontier-(-FRONT-)-WEEKLY-ANALYSIS-AND-PRICE-PREDICTION
Cryptocurrency

FRONTİER (FRONT) Coin Overview and Weekly Technical Review:

31 July 2023
Turks'-Favorite-Metaverse-Coin-Announced-Giant-Partnership2
Cryptocurrency

Turks’ Favorite Metaverse Coin Announced Giant Partnership!

31 July 2023
What-is-Kava-Swap-(SWP)-coin
Cryptocurrency

Kava Swap (SWP) Coin Weekly Analysis And Price Prediction

31 July 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

NEWS FEED

Frontier-(-FRONT-)-WEEKLY-ANALYSIS-AND-PRICE-PREDICTION
Cryptocurrency

FRONTİER (FRONT) Coin Overview and Weekly Technical Review:

31 July 2023
Turks'-Favorite-Metaverse-Coin-Announced-Giant-Partnership2
Cryptocurrency

Turks’ Favorite Metaverse Coin Announced Giant Partnership!

31 July 2023
What-is-Kava-Swap-(SWP)-coin
Cryptocurrency

Kava Swap (SWP) Coin Weekly Analysis And Price Prediction

31 July 2023
Will-XRP-Become-$1-Ripple-Slows-Down,-That-Coin-Already-Approaches-$1-Million
Cryptocurrency

Will XRP Become $1? Ripple Slows Down, That Coin Already Approaches $1 Million

30 July 2023
DMCA
PROTECTED
TurkishNY Radio

Site Navigation

  • Home
  • About Us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact

TurkishNY Radio

No Result
View All Result
  • Home
  • Business
  • Economy
  • Cryptocurrency

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.