BLACKROCK JPMORGAN CHASE BTC ETF APPROVAL
Blackrock filed its fifth amendment to its spot Bitcoin ETF application with the SEC naming JPMorgan Chase and Jane Street as authorized participants. The asset managers decision comes weeks after JPMorgan CEO Jamie Dimon critisized Bitcoin and cryptocurrency calling it gold without a government and suggesting should be banned. Bullish.
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FiReBiTriXiE : Yea they mad they can’t hold Bitcoin itself for like restricted reasons so they hate on it and why they are for the ETF cause that they can manage
FiReBiTriXiE : It’s all about control and an ETF they can control tf out of greedy bastards lol
FiReBiTriXiE : “Content: BlackRock, the global investment management corporation, has revised its spot Bitcoin exchange-traded fund (ETF) proposal. The revised model aims to enable major financial institutions like JPMorgan and Goldman Sachs to participate more easily in the Bitcoin market, despite regulatory restrictions preventing them from holding Bitcoin directly. The proposal includes an in-kind redemption "prepay" model, which allows banks to create new ETF shares using cash rather than Bitcoin. This shift in methodology transfers risk from authorized participants to market makers, enhancing the ETF's stability. The proposal also addresses SEC concerns regarding market manipulation and focuses on investor protection, reducing transaction costs, and streamlining operations.”