Exactly as expected — institutions are starting to actively utilize this instrument
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Bloomberg analyst Eric Balchunas referred to ETFs in Hong Kong as "child's play" compared to trading by heavyweight financial players in the US, such as BlackRock, Fidelity, and Grayscale.
In total, Hong Kong funds manage around 4 000 bitcoins, whereas the assets of just the #BlackRock ETF alone amount to over 270 000 coins
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For now, the decision will only apply to VanEck.
For the largest contender for launching ETH ETFs, #BlackRock, the review period is set for August 7.
Meanwhile, QCP Capital believes that if the spot ETH ETF is approved, we can expect #ethereum to reach $5000 this year.
#CryptoNews #Opinion
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The most funds, $350 million specifically, have flowed into the #IBIT fund, which belongs to #BlackRock. Currently, their balance is valued at more than 300,000 #BTC.
BlackRock has bought all the businesses, and now they want to buy all the bitcoins
#CryptoNews
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#CryptoNews
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Meanwhile, #Grayscale transferred 292,262 ETH (equivalent to $1 billion) to exchanges, and #BlackRock added 3,030 Ethereum coins to their balance for the ETH-ETF under the ticker #ETHA.
So, to the moon? Or towards a correction?
#CryptoNews
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