Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Cryptocurrency Price Speculations => Topic started by: Cheema02 on December 30, 2023, 06:03:10 AM
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Hi, 2 significant candidates in the race to introduce Bitcoin exchange-traded funds ETFs BlackRock and Valkyrie, have revealed the names of their permitted participants. BlackRock which is not allowed to buy cryptocurrency directly, intends to work with J.P. Morgan and Jane Street to buy Bitcoin on its behalf. In a similar vein Valkyrie has designated Cantor Fitzgerald and Jane Street as approved participants. These alliances suggest that asset managers and well-established financial institutions may work together to get around regulatory constraints.
(https://i.ibb.co/QNFXxCk/JPFFKD7-TPJBY7-NGMXA4-I2-EV7-BI.jpg) (https://ibb.co/ncsRKnB)
Interestingly given CEO Jamie Dimon open skepticism and dislike of cryptocurrencies, industry observers were taken aback by J.P. Morgan's recent revelation of its relationship with BlackRock. Between January 5 and 10, the Securities and Exchange Commission is anticipated to make an announcement regarding the approval of spot Bitcoin ETFs. Valkyrie and BlackRock have both had ve filed amended S-1 forms a crucial stage in the approval procedure for ETFs.
details (https://www.coindesk.com/business/2023/12/29/blackrock-names-jp-morgan-jane-street-as-authorized-participants-for-bitcoin-etf/)
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I think the collaboration between giants like BlackRock and Valkyrie to create a Bitcoin ETF signals a growing interest in cryptocurrencies among traditional financial institutions. This could open the door to new investment opportunities and attract more investors to the crypto market.This shows that cryptocurrencies are becoming increasingly important in the traditional financial sector.