BlackRock’s iShares Bitcoin ETF has attracted over $39.7 billion in total inflows since its launch. Recently Nasdaq supported a proposal to SEC to implement an “in-kind” model. This model streamlines BTC transactions for institutional players.
This shift is significant. The “in-kind” redemption and creation model will simplify operations by allowing investors to transact directly in Bitcoin. There will be no need for converting your BTC to cash.
While Nasdaq’s proposal waits for SEC’s approval, analysts are closely monitoring BTC with many predicting it to reach a new ATH. While analysts are bullish on BTC reaching a new ATH, BlackRock’s CEO Larry Fink also believes that Bitcoin price could soar to $700,000. BTC price is currently at on Coinmarketcap with a 24-hour trading volume of $23,719,796,650.
