BlackRock's Bitcoin ETF on the Horizon

Is BlackRock's Bitcoin ETF the next big roar in the crypto-jungle?

Author

Jungle Degen
October 27, 2023

Greetings Crypto Explorers! 🌴🦜

This week, we're focusing our binoculars on a monumental event that's causing a thunderous roar across our jungle: BlackRock, the gorilla of asset management, is on the brink of launching its much-anticipated Bitcoin ETF. As vines tremble and birds take flight, we delve deeper into this development and its potential impact on our thriving crypto habitat. Now, grab your machetes and compasses, fellow explorers, and let's embark on this thrilling expedition through the crypto-jungle!

As always… Stay Wild! 🌿🦁🚀.

🦍 The Big Jungle Roar

This week's monumental event that shook the crypto-jungle. Roar with us!

BlackRock Preps for Bitcoin ETF Launch, Lines Up Seed Investor and Reveals Ticker - Decrypt

decrypt.co/202862/blackrock-preps-for-bitcoin-etf-launch-with-amendment-showing-seed-fund-investor

BlackRock, the undisputed gorilla of the asset management world, with a whopping $9.5 trillion under its care, is swinging closer to launching its Bitcoin ETF! 🦍

The iShares Bitcoin Trust, also known as IBTC, has been listed by the Depository Trust & Clearing Corporation (DTCC), the colossal anaconda that slithers behind U.S. financial markets. This clearinghouse handles an elephantine $2.3 quadrillion worth of stock sales annually. 🐍💰

BlackRock's filing to the U.S. Securities and Exchange Commission last week made our parrot squawk - it revealed plans of a seed capital investor intending to buy shares this month! Though we don't have the exact date, our jungle vines have been buzzing about these developments.

Now, what's an ETF, you ask? Imagine a treasure chest that tracks the price of an asset like Bitcoin. You get to own a piece of this treasure without having to deal with crypto exchanges or storing digital coins yourself.

Analysts are now whispering of a high chance (90%, says Bloomberg Intelligence!) that a Bitcoin ETF could get approved very soon. 🔮🎉

Keep in mind, crypto foresters, while some believe an approved ETF could send Bitcoin's price soaring like a rocket-fueled monkey 🚀🐒, others are a bit more skeptical. Crypto spot ETFs already exist in Europe and Canada and haven't led to a massive influx of capital.

Currently, Bitcoin is perched high on the tree at over $31,000 per coin, according to CoinGecko - that's a 4% rise in 24 hours! 🌳🪙💹 

Until the next sunrise, crypto explorers! 🌅🦁

🐦 More on Cointelegraph’s tweet:

🦁 King of the Crypto Jungle

Unleashing the top beasts of this week's crypto news. Beware, it's a wild ride!

🐒 Meme Monkeys

Hopping onto the funniest and savviest crypto memes that swung through the jungle this week.

🦜 Jungle Mystery of the Week

Can you solve our crypto-themed riddle? The answer lies hidden deep within the jungle. Share your guesses on Twitter and tag us! (we may gift someone some crypto 👀)

Dive into the jungle's heart, crypto explorers, where a formidable beast emerges, casting a vast shadow across our crypto realm. Neither foe nor ally, this entity is poised to transform the landscape, offering a treasure that dances with moonlight yet remains elusive. This cryptic riddle hints at a powerful newcomer in our thriving crypto-jungle. Can you decipher who or what it might be? Remember, in this crypto wilderness, things are often not as they appear.

🦩 Tweets from the Jungle

Check out these wild crypto tweets that have made it to the jungle!

🐊 Crypto Swamp Watch

  • Bitcoin (BTC) - $33,804.11 (14.15%)

  • Ethereum (ETH) - $1,781.03 (10.89%)

  • Top Gainer: Floki (+80.83%)

  • Top Loser: Bitcoin SV (-15.01%)

    Snapshot taken on the 27th of October, around 3pm, Jungle time.

🍍 Jungle Poll Parrot

Join our parrot's poll! This week's squawk…

Seed investor funding BlackRock's Bitcoin ETF: Your move?

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🐯 Jungle Snapshots

Our grand finale - Jungle madness, guaranteed wilder than any pump and dump. Enjoy, you crypto beasts!

My jungle girls!

👋 That's all for this issue of Jungle Tales! As we part ways, let's remember the wise words of a crypto degen:

In the heart of our crypto-jungle, the rustle of fresh leaves signals the arrival of new actors on our shared stage. These newcomers, emboldened by the call of the wild, bring with them fresh perspectives and innovative strategies, causing ripples through our dense canopy. Yet, it's essential to remember that our jungle is not a race to the highest treetop, but a collective exploration of the untamed wilderness. As the crypto biome grows denser with new entrants, let's welcome their vigor while remaining grounded in our roots. The crypto landscape is ever-evolving, and with each new arrival, our understanding deepens and our journey becomes more enriching. Remember, the strength of the jungle lies not in solitary conquests, but in its diverse and thriving ecosystem.

Don't forget to share our newsletter with your fellow crypto adventurers, and follow us on Twitter X.

Until next time, keep exploring the wild world of crypto!

Pura Vida,

Jungle Degen

JUNGLE WARNING: Hear me, ye dauntless navigators of the crypto wilderness. This parchment holds no keys to monetary splendor. Consider it more of a cryptic map of the jungle, teeming with teachings, not a treasure chest marked with an 'X'. It neither mutters veiled secrets of investment, nor beckons you to swap your prized assets or enact any fiscal transactions. In this unpredictable crypto habitat, caution is your most trusted ally, and your own robust investigation, the steadfast compass. Equip yourselves with the shield of wisdom, as you traverse the intricate network of paths. Remember, swift success is often a false trail; it is through enduring patience, adroit maneuvering and careful strategy can you navigate this mysterious landscape. The jungle is vast and filled with enigmatic conundrums; let your own diligent research be the torch that dispels shadows. Don't be lured by the glimmering illusion of quick profits, but bend your will to the pursuit of genuine understanding. Keep your wits about you and eyes wide open on this crypto-quest. To cut a long story short, this is NOT financial advice. Safe travels, crypto explorers!hapcan xXx