Last night, Bitcoin reached its highest value in 2023, 35k!
The rumors surrounding the approval of the BTC Spot ETF have boosted demand to the point of leading us to a very strong increase.
Which ETF Spot am I talking about?
On the afternoon of October 24th, the bombshell news regarding the BlackRock and iShares ETF Spot came out.
The DTCC (Depository Trust & Clearing Corporation), a financial services company that verifies the regularity and efficiency of the main securities transactions in the USA, has officially listed the ticker IBTC than remove it after few hours (not sure what is going on).i
In case the ETF will be finally approved, it will be undoubtedly a step of fundamental importance for the marketing of this high institutional profile financial product
Straight to the point, BlackRock will buy BITCOIN!
This does not mean that BlackRock and iShares will buy all the Bitcoin in circulation, but the amount necessary to guarantee the exchanges immediately after the official launch.
The supplier described in the official documentation will be Coinbase which will take care of obtaining liquidity to buy the Bitcoins which will be exchanged with the first issue IBTC Shares.
Long months have passed since the last time we saw a similar pump in such a short time, we savor the old bull market emotions and general optimism.
A very positive day for those who have accumulated in the previous months, not caring about all the FUD that invaded the newspapers.
So, no matter whether you are in favor of ETF Spot or not, today we celebrate Bitcoin in unison!
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