Bitcoin Jumps Past $25.7K After BlackRock iShares ETF Filing
The largest cryptocurrency rose more than 1.3% in the hour after the announcement.
Bitcoin jumped past $25.700, a more than 1.3% gain, in the hour after the iShares unit of fund management powerhouse BlackRock (BLK) filed paperwork Thursday afternoon with the U.S. Securities and Exchange Commission (SEC) of a spot bitcoin () ETF.
Bitcoin dipped below $25,000 just a day earlier for the first time in three months and spent most of Thursday prior to the BlackRock announcement hovering just over that threshold. BTC's price sank amid concerns about U.S. central bank hawkishness and increasing U.S. regulatory scrutiny of the crypto industry.
But the BlackRock announcement rekindled optimism about the possibility of a spot bitcoin ETF, even after the SEC has rejected multiple applications over the past 18 months.
To be named the iShares Bitcoin Trust, the fund's assets are to "consist primarily of bitcoin held by a custodian on behalf of the Trust," according to the filing. That custodian will by crypto exchange Coinbase (COIN), said the filing.
CoinDesk reported on BlackRock's intention to soon file for a bitcoin ETF.
Edited by James Rubin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Victim Compensation Does Not Excuse Criminal Acts, Judges Inform SBF
- Sam Bankman-Fried’s legal team faces uphill battle as appeals judges question claims of unfair trial and lack of fraud intent. - Judges dismiss defense arguments, noting SBF admitted not relying on legal advice during FTX fund transfers. - Court rejects post-trial repayment claims, emphasizing criminal liability persists despite 90% customer fund recovery. - Case sets precedent for crypto accountability, with appeals unlikely to succeed without procedural errors.
Sequoia's Change in Leadership: Will Advancements in AI Help Restore Broken Trust?
- Sequoia Capital's Roelof Botha steps down amid reputational crises, ceding leadership to Alfred Lin and Pat Grady during strategic recalibration. - The transition follows Islamophobic controversy, COO's exit, and a $200M FTX loss, prompting cultural and financial restructuring efforts. - New leaders prioritize trust restoration via a $950M AI fund targeting disruptive startups, signaling a return to U.S.-centric operations and ethical accountability. - The shift reflects industry-wide adaptation to geopo
Solana News Update: Mutuum Finance's DeFi Strategy: Balancing Stability Against Shiba Inu's Fluctuations
- Mutuum Finance (MUTM) raises $18.27M in presale with 80% completion, targeting $0.06 launch price for 400% potential gains. - Project combines Solana's utility-driven growth with SHIB's viral appeal via dual-lending model and automated risk management protocols. - CertiK audit (90/100) and $50K bug bounty address DeFi security risks, while buy-and-distribute mechanism boosts token value retention. - Whale investments and structured tokenomics (45.5% presale allocation) signal institutional confidence ahe
Bitcoin News Update: Retail Investors Panic While Institutions Accumulate as Bitcoin Challenges $106K Support Level
- Bitcoin fell below $100,000 on October 30, 2025, its first drop in six months amid heightened volatility. - ETF outflows ($488M) and institutional buying (397 BTC at $114,771) highlight retail caution vs. institutional confidence. - Analysts warn of 65%-70% drawdown risks over two years, citing weak investor understanding and panic selling cycles. - Regulatory shifts (e.g., Wyoming stablecoin plans) offer partial support but fail to offset year-to-date price swings ($67k-$124k). - Market uncertainty pers
Trending news
MoreCrypto prices
More
