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55357457 No.55357457 [Reply] [Original]

why is blackrock doing a bitcoin ETF and is it bullish or not. tons of retards seem to think it's bullish for no real reason whatsoever so i'm thinking it's not

>> No.55357462

>>55357457
it gives legitimacy to crypto as an investment

>> No.55357480

it will be like SPY where normies dump a small percentage of paycheck in it every month without thinking twice and feel comfortable doing so bc its managed by le Blackrock

>> No.55357529

>>55357462
Van eck. Read into why the sec has rejected it now for years. And larry is going to get the same argument why he can't do it. And no it doesn't matter if its fink or the dutch

>> No.55357562
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55357562

>>55357457
It's not bullish or bearish, it's crabbish. Retards believe Larry Fink will just buy spot btc and hold it, when in reality big money getting into crypto would just doom it to an infinite crab range. Their goal is to hunt stop losses and liquidation levels, not pump people's bags

>> No.55357705

>>55357562
when the narrative for it is there (Fed prints, halving, elections, etc) these fucks will pump in billions just to dump us in trillions. These fucks aren’t dumb enough to waste an opportunity to dump hard on regular joe normies.

>> No.55357787
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55357787

>>55357457
What have etfs done for gold and silver?

>> No.55357818

Read through the Bank of International Settlements guidelines on what crypto assets banks are allowed to get exposure to.
They are allowed to keep up to 5% of their balance in "Group 1" crypto assets (as long as they're backed 1-1 with other assets).
What are the qualifying requirements for Group 1 status? Well, an ETF is one of them. So banks can literally only hold cryptos that have ETFs under BIS guidelines, which is currently zero crypto projects.
But the fact the guidelines are laid out this way guarantee 100% that certain ETFs are inevitable.

>> No.55358025

>>55357457
Any and all "ETF" news is bearish, always has been and always will be.