Proactive Investors – Bitcoin (BTC) saw renewed bullishness on Monday evening after BlackRock (NYSE:BLK) refiled its much-hyped spot bitcoin exchange-traded fund (ETF) with the UK Securities and Exchange Commission (SEC).
BlackRock, the world’s largest asset manager, has been trying to push its filing past the SEC for the past two weeks but has yet to get the nod.
However, BlackRock refiled for a spot bitcoin ETF, which could give trillions of dollars worth of institutional funds access to bitcoin, on Monday, taking into account the SEC’s objections to previous filings.
As part of BlackRock’s strategy, the asset manager said Nasdaq-listed cryptocurrency exchange Coinbase Global Inc (NASDAQ:COIN) will market surveillance in order to comply with the SEC’s standards.
This could involve tracking blockchain transactions and providing ownership details on custodian-held funds.
BlackRock sends bitcoin higher
BlackRock’s dogged determination to get its ETF over the line sent BTC/USDT 1.8% higher to US$31,156 on Monday.
The pair fell back half a percentage point in this morning’s Asia trading session, but still remains above 31k – albeit only slightly at US$31,010.
Open interest on the futures market also ratcheted up from US$9.7bn to US$10.3bn overnight.
Sentiment appears to be high in the bitcoin market, with the Bitcoin Fear & Greed Index firmly in the green.
Ethereum (ETH) added less than one percent yesterday and has remained flat this morning at US$1,955.
Read more on Proactive Investors UK
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