BlackRock is close to getting into crypto, and when they do, we'll buy billions worth of Bitcoin.Industry insiders are expecting Bitcoin spot ETF approvals for BlackRock and other asset managers within the next three to six months.This will bring a tsunami of institutional money into crypto.Today we'll look at what these ETF approvals mean for crypto, what comes next, how I'm preparing to take advantage of them, and when I'll start accumulating.But first I have to say I'm not a financial advisor.This is for educational purposes only.Anything I share here is my personal opinion.Do your own research before investing in crypto because it is a high risk industry.Now, you might have heard about the already existing futures ETF for Bitcoin and Ethereum.So what's the big deal with a spot ETF?
Well, futures ETFs don't need to be backed by the underlying asset.So asset managers who issue a futures ETF don't need to buy Bitcoin or ETF to back the ETF spot.ETFs work differently.BlackRock and other asset managers get their ETFs approved, they will need to buy billions worth of Bitcoin to back them.And it doesn't end there.When the Bitcoin ETFs get approved, they will start applying for Ethereum ETFs.I mean, greyscale is already applying billions of cash flowing into crypto.An institutional giant like BlackRock digging its fangs into crypto marks a turning point that will forever change this industry for the worse.BlackRock is not the good guy.In fact, history has proven that they have been the bad guy many times over.BlackRock has recently been accused of profiting from misery in Zambia with its predatory lending tactics In the US.They are buying up single family homes in bulk, which is contributing to the steep rise in housing costs.And that's just a few of the things that they're involved in.BlackRock exers massive control over financial , manipulating them to its will and absolutely crushing retail traders.They've been perfecting this in Trad Fi for decades and now they're coming to crypto and for some reason we're cheering them on.
You think FTX was bad for crypto?BlackRock has been manipulating markets since before the founders of many crypto firms were even born.They are masters of market manipulation and everything they do is legal because they're best mates with the lawmakers.They will bring immense capital and resources, creating an uneven playing field for retail traders like us.Most individual investors won't be able to keep up with the institutional firepower that these mega funds wield.They'll bring with them a wave of consolidation, acquiring crypto exchanges or using their influence to put them out of business.If you think VCs are bad, we are about to get VCs backed by evil mega corps that are the complete opposite of everything crypto is founded on.They'll push for regulatory measures that favour their interests.Compliance burdens will increase, hindering smaller projects and stifling innovation in the space.
The once anonymous nature of transactions will erode, leaving individuals exposed to surveillance and compromising their financial privacy.Innovation will suffer under institutional dominance.
Institutions favour established cryptos and will suppress new projects.The sense of community in crypto will be fractured by institutional control.They will make crypto A sterile shell of its former self and then decentralisation becomes a meme.Crypto will become stock market 2 point OI am on this ride till the bitter end, but with every passing day the future looks bleaker.Well, we have seven months until the halving and three to six months until insiders believe the ETFs will be approved. I believe Blackrock's initial push into crypto will be good . They won't buy alts, but they will buy BTC which will make alts rally.There is generally a lag time of 1 to 3 months between BTC rallying towards all time highs and alts really taking off.This is a critical time in crypto.We are seeing the catalysts that lead BTC into a bull market lining up and alts will follow after.
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