Could Bitcoin feel the BlackRock effect?

In a significant development for the cryptocurrency industry, BlackRock, the world’s largest asset manager, has filed for a Bitcoin Exchange-Traded Fund (ETF). An ETF is a type of security that tracks an index, sector, commodity, or other asset, which can be purchased or sold on a stock exchange like a regular stock. A Bitcoin ETF, specifically, would track the price of Bitcoin, allowing investors to buy into the ETF without dealing with the complexities of owning Bitcoin itself.

BlackRock’s entry into the Bitcoin ETF space is a significant event. With over $8.5 trillion in assets under management, BlackRock’s influence on the financial markets is substantial.

In this report, CryptoSlate will dive deep into the performance of the assets BlackRock’s previous ETFs have tracked and compare them to the potential effect its Bitcoin ETF could have on the crypto market.