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MainNewsBitcoin: Bla...

Bitcoin: BlackRock Delays $10 Million BTC Purchase, Here’s Why


Bitcoin: BlackRock Delays $10 Million BTC Purchase, Here’s Why
Jan, 04, 2024
2 min read
by Watcher.Guru
Bitcoin: BlackRock Delays $10 Million BTC Purchase, Here’s Why

Bitcoin (BTC), the biggest cryptocurrency by market cap, started 2024 on a high note. BTC surpassed the $45k mark for the first time since March 2022, in almost 22 months. Moreover, many in the cryptocurrency space are ecstatic about a possible spot BTC ETF (Exchange Traded Fund) approval by the US SEC (Securities and Exchange Commission).

Also Read: MicroStrategy Bitcoin Now Sits At $2.65 Billion Profit

BlackRock, one of the spot BTC ETF applicants, had plans to purchase $10 million worth of Bitcoin (BTC) on Jan. 3, 2024. However, according to reports, the world’s largest asset manager has postponed its BTC purchase plan. The purchased BTC would have gone for the seed creation basket.

It is unclear why BlackRock has postponed its Bitcoin (BTC) purchase. The asset manager may be working out things with its spot BTC ETF. Moreover, the SEC may delay its decision on the ETF. Hence, the asset manager may have decided to postpone its BTC purchase.

According to reports, BlackRock has pushed its BTC purchase date to Jan. 5, 2024.

Source: Paynews42

Will the SEC approve a spot Bitcoin ETF this month?

What is the Bitcoin Overflow Bug?

Many analysts have predicted that the SEC will approve one or more spot BTC ETF applications by Jan. 10, 2024. Other analysts have also said that an early January date seems plausible.

Also Read: Coinbase says it has Extensively Prepared for Bitcoin ETF Approval

However, the financial watchdog may delay its decision due to technical reasons. The SEC is also in legal battles with some of the biggest crypto firms, such as Coinbase. Last year, the SEC partially lost its case against Ripple, which it accused of selling unregistered securities. However, a district court ruled that selling XRP to retail clients did not breach securities laws. The SEC has also postponed every deadline for a spot BTC ETF in 2023. There is no confirmation if the agency will do the same in 2024.

Read the article at Watcher.Guru

Read More

The Calm Before The Surge: Analyst Says This Is Not The Time To Exit Bitcoin

The Calm Before The Surge: Analyst Says This Is Not The Time To Exit Bitcoin

A crypto analyst has emphasized the need to stay invested in Bitcoin (BTC), forecasti...
Aug, 22, 2024
2 min read
by Bitcoinist
Gold Tops $2500, Steals The Spotlight From Bitcoin – Details

Gold Tops $2500, Steals The Spotlight From Bitcoin – Details

Crossing above $2,500 per ounce at $2,531, gold prices have reached a fresh record hi...
Aug, 22, 2024
3 min read
by Bitcoinist
MainNewsBitcoin: Bla...

Bitcoin: BlackRock Delays $10 Million BTC Purchase, Here’s Why


Bitcoin: BlackRock Delays $10 Million BTC Purchase, Here’s Why
Jan, 04, 2024
2 min read
by Watcher.Guru
Bitcoin: BlackRock Delays $10 Million BTC Purchase, Here’s Why

Bitcoin (BTC), the biggest cryptocurrency by market cap, started 2024 on a high note. BTC surpassed the $45k mark for the first time since March 2022, in almost 22 months. Moreover, many in the cryptocurrency space are ecstatic about a possible spot BTC ETF (Exchange Traded Fund) approval by the US SEC (Securities and Exchange Commission).

Also Read: MicroStrategy Bitcoin Now Sits At $2.65 Billion Profit

BlackRock, one of the spot BTC ETF applicants, had plans to purchase $10 million worth of Bitcoin (BTC) on Jan. 3, 2024. However, according to reports, the world’s largest asset manager has postponed its BTC purchase plan. The purchased BTC would have gone for the seed creation basket.

It is unclear why BlackRock has postponed its Bitcoin (BTC) purchase. The asset manager may be working out things with its spot BTC ETF. Moreover, the SEC may delay its decision on the ETF. Hence, the asset manager may have decided to postpone its BTC purchase.

According to reports, BlackRock has pushed its BTC purchase date to Jan. 5, 2024.

Source: Paynews42

Will the SEC approve a spot Bitcoin ETF this month?

What is the Bitcoin Overflow Bug?

Many analysts have predicted that the SEC will approve one or more spot BTC ETF applications by Jan. 10, 2024. Other analysts have also said that an early January date seems plausible.

Also Read: Coinbase says it has Extensively Prepared for Bitcoin ETF Approval

However, the financial watchdog may delay its decision due to technical reasons. The SEC is also in legal battles with some of the biggest crypto firms, such as Coinbase. Last year, the SEC partially lost its case against Ripple, which it accused of selling unregistered securities. However, a district court ruled that selling XRP to retail clients did not breach securities laws. The SEC has also postponed every deadline for a spot BTC ETF in 2023. There is no confirmation if the agency will do the same in 2024.

Read the article at Watcher.Guru

Read More

The Calm Before The Surge: Analyst Says This Is Not The Time To Exit Bitcoin

The Calm Before The Surge: Analyst Says This Is Not The Time To Exit Bitcoin

A crypto analyst has emphasized the need to stay invested in Bitcoin (BTC), forecasti...
Aug, 22, 2024
2 min read
by Bitcoinist
Gold Tops $2500, Steals The Spotlight From Bitcoin – Details

Gold Tops $2500, Steals The Spotlight From Bitcoin – Details

Crossing above $2,500 per ounce at $2,531, gold prices have reached a fresh record hi...
Aug, 22, 2024
3 min read
by Bitcoinist