SEC was adamant in past, that Tethers and other fake stable coins are main culprit why spot BTC ETF will not be allowed. Black Rock of course has a lot of sway.
I noticed today that the 55-PUT on Coinbase is already OOTM again. People losing faith in Gensler's abilities to win this...
Hoping and praying this too will get denied, but... https://www.cnbc.com/2023/06/15/bla...-etf-with-coinbase-as-a-crypto-custodian.html
This is the best part of this Blackrock filing. I'm hoping there will be another Bitcoin fork season (similar in 2017) and my guess (and will pray) that ESG-focused Blackrock will choose the Bitcoin PoS fork
Essentially what ever it takes, sad very sad. These forks are garbage. It is either an asset or not. Gold has no forks.
The future of BTC seems to be moving from a commodity into a security Pretty much what I said would happen ages ago. BRC-20 is the latest proof of where this is heading. Now the blockchain is getting clogged with shit of the shittiest NFTs, and bitcoiners will ohhh & ahh over this achievement. Which is still a generation behind of where Ethereum was with CryptoKitties many years ago. It is however, good times ahead for the miners who survived the PoS apocalypse. Bag-holders of Hive, Hut8, etc. may be able to find a good exit strategy now.
Only manager fee is important, obviously coinbase is protected, otherwise there will be no legit custodian in the us of a.