BlackRock has a 100% approval rate for their ETF applications. However, what would happen if the SEC rejects the approval for the Bitcoin BlackRock ETF? I believe it could potentially be the most significant attack on Bitcoin, impacting its value and overall standing. Monitoring regulatory decisions closely is crucial to understand their potential implications for the cryptocurrency market.
Well, if that's happened then it will represent only one thing that SEC and USA authorities who were promoting crypto for the past 1 and half weeks, are doing it to create some uptrend in the market (artificial one) so that after it, they could dump the market. Why? That question has numerous answers, but the most famous one is, they also want to earn money.
But in my POV, this is not going to happen soon, not in this month maybe, but i do have a pessimistic mind that always hints to me that, the market will make some dip that will allow more institutions to invest in BTC, or lure them to buy more shares from Microstrategy. This will ultimately increase the revenue of the US tax authorities.
My advice is, we should not be skeptical about ETF that much, no wonder it has big side effects as well as benefits but we should be more focused on the issues which are already in the market no on the issues which are not even occurred and the probability is near to zero in near future.