DeFi News Today TheBitTimes.com

The interesting thing about the filing is that BlackRock has chosen Coinbase as the custodial services provider. Yes, it’s the same Coinbase against whom the US SEC filed a lawsuit recently for violating custody rules, among other charges. If the SEC were to approve the BlackRock filing, it could also mean a fast settlement of the lawsuit. advertisement Crypto market experts have weighed in their opinion on the matter. Popular crypto analyst WhaleWire explains: “ With BlackRock’s Spot Bitcoin ETF application, they say they will custody with Coinbase exchange. CoinBase is a SEC noncompliance company, so like every other Bitcoin ETF, this has a 99% chance of being rejected. ETFs are also such a powerful way of manipulating prices (down), so that’s actually a good thing for bulls”. Market analyst and expert Will Clemente calls it “Hilarious”. He adds that the dots don’t join considering the fact that the SEC sued Coi...

As of press time, Bitcoin is trading 2.12% down at a price of $28,566 and a market cap of $553 billion. It seems that Bitcoin is ending the month on a pretty flat note, however, it holds the potential to jump new highs over the next year. advertisement So far, the Bitcoin (BTC) price is already trading at more than 75% gains since the beginning of 2023. Citing historical trends, data from Bloomberg shows that a four-months winning run in Bitcoin over the past decade has been followed by an average surge of 260% in the subsequent year. This would further propel the Bitcoin price all the way to more than $100,000. Bitcoin has managed to overcome major macro events and the banking crisis this year and is acting as a true hedge against the traditional financial system. On the other hand, the countdown to Bitcoin halving starts which is tentatively around one year from now. If history is a lesson, the rally in the Bitcoin price should continue till the halving ev...