The Owner Of All Things Blackrock Just Filed For A Blockchain ETF
Anyone else find it weird that the market is dumping as BlackRock files for a blockchain ETF? HOW DOES ANY OF THIS MAKE ANY SENSE!
BlackRock: "Hey, we're launching a new 'Blockchain and Tech' ETF"
Bitcoin: "Umm …"@kgreifeld https://t.co/hyIT6rpkwS pic.twitter.com/hX0jjiElbO— Anne Cronin (@annecronin) January 21, 2022
BlackRock, the world’s largest asset manager, filed with the SEC today for a blockchain-based ETF today. Named iShares Blockchain and Tech ETF, the fund, “seeks to track the investment results of an index composed of U.S. and non-U.S. companies that are involved in the development, innovation, and utilization of blockchain and crypto technologies.”
Recommended:
- By some accounts, BlackRock currently has around 10 trillion USD of assets under management. Currently, the crypto market cap stands at 1.66 trillion. Basically, BlackRock is about 6 times larger than crypto.
- BlackRock is famous for trying to buy just about everything. This year in particular they were heavily criticized for strong-arming their way into the overheated real estate market.
- For whatever reason, the market continues to dump on the news, because, nothing makes sense anymore. Would a fine money extracting entity like BlackRock be getting into blockchain to lose money?
- Not to mention, Facebook, Google, Twitter, and Netflix-kind of are now more into crypto and NFTs this week.
- Back in October, the CEO of BlackRock, Larry Fink, said he was excited about crypto. “…I do believe that there is a huge role for a digitized currency, and I believe that’s going to help consumers worldwide — whether it’s a Bitcoin or something else or more of a governmental official digital currency, a digital dollar, that will play out.”
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Text source: CryptosRus
