BlackRock Filing for a Bitcoin ETF Is The Most Bullish Move For Crypto

As you probably heard by now, BlackRock has just filed for a Bitcoin ETF. Check out the latest reports regarding the huge impact that this could have on the crypto space.

According to billionaire Mike Novogratz, the filing of a Bitcoin (BTC) exchange-traded fund (ETF) by BlackRock is highly beneficial for the leading cryptocurrency. In an interview with The Claman Countdown, the CEO of Galaxy Digital expressed his desire for BlackRock, a $10 trillion investment firm, to succeed as it would simplify the process for blue-chip investors to enter the market.

However, as of writing, all BTC ETF requests sent to the U.S. Securities and Exchange Commission (SEC) for approval have thus far been rejected.

“I say a Hail Mary and two Our Fathers every night that they are successful. If [BlackRock chief executive] Larry Fink can pull it off, that’s a stunningly big deal for the space because it makes it really easy for institutions to participate [as] they’re the biggest asset manager in the world…”

He continued and pointed out the following as per the online pubcalition the Daily Hodl:

“There’s no reason we shouldn’t have a Bitcoin ETF; we’ve got a futures ETF. The judge already kind of chastised the SEC for the lunacy of that in the Grayscale case, so we’ll see.”

It is also worth noting the fact that Novogratz tells his 463,000 Twitter followers that BlackRock succeeding in its bid for a BTC ETF would be optimal for the top crypto asset by market cap.

“BlackRock getting a BTC ETF through would be the best thing that could happen to BTC.”

Regarding Bitcoin’s price today, at the moment of writing this article, BTC is trading in the green and the king coin is priced at $26,706. Stay tuned for more news from the crypto space.