Bitcoin Price Prediction as BTC Blasts Past $30,000 Level in Huge Move Up – What's Going On?
The cryptocurrency market has witnessed a momentous event as Bitcoin (BTC) price catapulted past the significant $30,000 level, sending shockwaves throughout the industry.
As market participants grapple with this meteoric rise, two notable developments have emerged, shedding light on the evolving landscape of cryptocurrencies.
Firstly, Nasdaq, in collaboration with other industry rivals, has modified BlackRock's application for a Bitcoin exchange-traded fund (ETF).
Secondly, Singapore, a prominent global financial hub, has introduced new cryptocurrency regulations.
As Bitcoin continues to capture attention and reshape the financial landscape, a comprehensive understanding of the forces driving its surge is essential for investors and enthusiasts alike.
BlackRock, the asset management firm, has submitted an updated application to the US Securities and Exchange Commission (SEC) for spot bitcoin exchange-traded funds (ETFs).
Following the lead of four other companies, BlackRock modified its application and included Coinbase as a surveillance-sharing agreement (SSA) partner.
This move mirrors the actions of Cboe, which refiled registrations from Fidelity, VanEck, Invesco, and WisdomTree.
Market manipulation and inadequate investor protection have been cited by the SEC as key concerns leading to repeated denials of spot bitcoin ETFs over the years.
However, the reputation of BlackRock, the world's largest asset manager, has sparked speculation that their spot Bitcoin ETF application may have a higher chance of approval.
BlackRock's prominence in the financial industry has led some to believe that their credentials could influence the decision.
BlackRock's filing states that the "Spot BTC SSA is expected to be a bilateral
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