Bitaigen Research From the perspectives of regulation and liquidity, we dissect the significance of BlackRock’s Bitcoin spot ETF being backed by the world’s top market makers. We explore how this could open a compliant gateway for traditional financial institutions to enter digital assets and analyze the potentially profound impact on the industry landscape. For more details, continue reading.
ETFs facilitate U.S. companies’ participation in the cryptocurrency market
CoinDesk reported that if the U.S. Securities and Exchange Commission (SEC) gives the green light to Bitcoin spot ETF applications submitted by asset‑management firms—including BlackRock—it would also open a compliant pathway for U.S. enterprises that currently face a complex regulatory environment to enter the crypto space. A spot ETF, like a stock, trades on an exchange, allowing traditional financial firms to leverage their existing business infrastructure to trade and invest directly in Bitcoin. This mechanism can be especially attractive for institutions that already have relationships with custodians and brokerage services that handle fiat transfers via SEPA, SWIFT, or ACH.
Total assets under management of Bitcoin ETF applicants exceed $15 trillion
Yann Allemann, co‑founder of on‑chain analytics firm Glassnode, disclosed on Twitter on October 29 that the combined assets under management (AUM) of all asset‑management companies currently seeking approval for a Bitcoin spot ETF have surpassed $15 trillion. He noted that once these ETFs are approved, institutional FOMO (fear of missing out) could spark a fresh bull run, pushing the broader crypto ecosystem to new heights. The sheer scale of capital involved underscores the growing institutional appetite for regulated exposure to Bitcoin.
Insiders: BlackRock is in talks with market makers
According to sources, BlackRock has submitted presentation materials to several globally renowned market makers as part of its effort to launch a Bitcoin spot ETF. The market makers involved include Jane Street, Virtu Financial, Jump Trading, and Hudson River Trading. Although none of these firms had issued an official response by the deadline of this article, negotiations were already underway. In an ETF structure, market makers play a crucial role: they create and redeem primary shares, provide continuous liquidity, and help keep the fund’s price aligned with the underlying Bitcoin market to a reasonable degree.
Bitcoin attempts to break the $35,000 barrier again
On the price front, BTC made another attempt around 5 a.m. UTC today to breach the $35,000 level but failed to hold. At the time of writing, the quote stood at $34,533, up a modest 0.1 % over the previous 24 hours. This modest uptick illustrates the market’s sensitivity to regulatory news and the ongoing tug‑of‑war between bullish sentiment and short‑term profit‑taking.
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The information above summarizes the latest developments regarding BlackRock’s Bitcoin spot ETF gaining backing from prominent market makers like Jane Street and Jump. For further details on the asset‑size breakthrough of Bitcoin ETF applicants surpassing $15 trillion, please follow additional articles on Bitaigen (比特根).
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⚠️ Risk Disclaimer: Crypto prices are highly volatile. This is not investment advice.
