Bitcoin ETFs and TradFi
Big names like BlackRock, Citadel, Fidelity and more are issuing either a Bitcoin ETF or creating a Bitcoin exchange these days. Is this the catalyst for the next cycle?
Everyone is piling into #Bitcoin creating their own ETF or exchange!
Is this the catalyst for the next bull market?
Will this cement $BTC as a global reserve asset?
Let's take a look at why the change of hearts in TradFi around #Bitcoin 🧵 👇
For those of you who has been living under a rock.
Traditional finance (TradFi) giants are coming, with the following filing Bitcoin ETFs and their AUM:
Blackrock - $10 Trillion
Fidelity - $4.5 Trillion
Invesco - $1.49 Trillion
Wisdom Tree - $87 Billion
Valkyrie - $1 Billion
What we are seeing is nothing short of a complete switch in sentiment and a massive narrative unfolding.
The gigawhale catches everybody's attention is BlackRock entering the crypto arena
The news cannot be understated.
When BlacRock makes a move, everyone’s watching 👀
BlackRock has filed for a Bitcoin ETF, by far the largest asset manager on the planet, with over $10 trillion in assets 🤑
The ETF is named iShares Bitcoin Trust, and could become the golden bridge that links traditional investment to crypto 🤝
Here’s a kicker for you: only a meager 10% of all Bitcoin is hanging out on exchanges, equivalent to $50B.
Imagine if BlackRock decided to go on a Bitcoin shopping spree and allocated a mere 0.5% of its funds, it could literally sweep up all Bitcoin available on exchanges.
Imagine a giant magnet sucking up all the coins like in a video game.
What does this mean?
Well, it underscores the sheer might of BlackRock’s financial muscle and the scarcity of Bitcoin.
The price action could be monumental 🚀
Other large TradFis like Deutsche Bank is piling in.
Deutsche Bank has applied for a Digital Asset License in Germany.
this means they’re not just dipping their toes into digital assets, but diving headfirst into the crypto waters.
Deutsche will be a crypto custodian, safeguarding digital assets, and offering a plethora of services, including trading through prime brokers.
More investors will be able to access cryptocurrency, and the demand for crypto and #Bitcoin will further increase!
Finally, The Elites Crypto Exchange is introducing EDX Markets as a new crypto exchange.
But it’s not just another platform; it’s Wall Street’s darling.
With backers like Charles Schwab, Fidelity, and Citadel, EDX is like the SoHo House of crypto exchanges.
It’s ultra-exclusive, focusing on institutions and using third-party banks to hold assets.
They are also planning to launch EDX Clearing to settle trades, further cementing their high-profile status.
So what’s really happening here?
Traditional finance giants are shoving their hand clearly making their move into crypto, while the US regulators are scrutinizing existing crypto players.
It’s like a strategic game of chess on a grand scale, and the endgame is still uncertain.
What’s clear, though, is that the worlds of traditional finance and cryptocurrency are starting to blend, and this could be the catalyst event for the next bull market 🐂
This is by no means NFA and we know from history that anything can happen in #crypto and #Bitcoin 🙏