Financial Giants Compete for Bitcoin ETF Approval
TL;DR Summary
BlackRock, Invesco, and WisdomTree have reapplied for approval to offer a spot bitcoin ETF, indicating that financial institutions are interested in making money by offering customers exposure to crypto. The path of least resistance for crypto exposure is through a spot bitcoin ETF since the SEC has rejected about a dozen applications so far. BlackRock will only make money on this ETF if approved, and it is expected that other BlackRock-sponsored crypto products will follow if the spot ETF is approved.
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- WisdomTree Joins Race For Bitcoin ETF Approval, Targets Cboe BZX Exchange - BlackRock (NYSE:BLK) Benzinga
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