Why Billions of Dollars Could Soon Flood Into Bitcoin & Crypto

A court ruling between Blackrock and the SEC, could be the trigger for the next crypto bull market and billions of dollars flowing into Bitcoin and crypto.

A couple of months ago, Blackrock which is the worlds largest asset manager with around $10 Trillion under management, applied for a Bitcoin spot ETF with the SEC.

If Blackrock gets its wish and its Bitcoin spot ETF fund gets approved by the SEC, it will be a huge moment for Bitcoin and crypto as Blackrock's investors will now have direct exposure to Bitcoin.

And this means that Billions of dollars will flood into Bitcoin pretty much overnight which will send Bitcoin's price soaring maybe 2X or 3X in a short period of time.

Prepare for the crypto bull run and navigate the crypto roller coaster by joining Teeka Tiwari's Palm Beach Letter service here.

And the process to getting Blackrock's Bitcoin spot ETF just took a significant step forward.

Here is a recent quote of what Teeka Tiwari from The Palm Beach Letter said about Grayscales battle to get it' GBTC trust converted to an ETF.

"The Grayscale Bitcoin Trust (GBTC) is the largest Bitcoin trust, with $17.4 billion in Bitcoin under management.

Due to its structure, the share price of GBTC can differ from the underlying asset.

That’s because it doesn’t have the same creation/redemption mechanism that ETFs do to balance the share price with the underlying asset.

Not having this mechanism in place led GBTC to trade up to a 49% discount to its net asset value (NAV) last year. That’s a massive loss to GBTC holders on top of the already steep drop in crypto prices.

To solve this problem, Grayscale has been working to convert the trust to an ETF. That would allow it to create or redeem shares. This mechanism would prevent GBTC from trading at a premium or a discount to its NAV.

But last year, the SEC denied Grayscale’s application to convert its Bitcoin trust into a spot Bitcoin ETF. So Grayscale took it to court.

Meanwhile, the SEC has approved a bitcoin futures ETF for ProShares, VanEck, Global X, and other companies.

The SEC argued that a spot Bitcoin ETF was more susceptible to market manipulation and lacked the oversight that a futures market had.

Just this week, a federal appeals court sided with Grayscale and ordered the SEC to vacate its rejection of Grayscale’s ETF filing.

In the order, the court’s panel of judges said the SEC was “arbitrary and capricious” for approving Bitcoin futures ETFs but rejecting a spot Bitcoin ETF.

To be clear, this doesn’t mean Grayscale has been approved to convert its trust into an ETF. It simply means the court decided that the SEC was wrong to reject the application based on its reasonings.

This is a major step in getting a spot Bitcoin ETF to market.

The court sided with Grayscale because its spot Bitcoin ETF would be “materially similar” to Bitcoin futures ETFs. And it should have the same likelihood of detecting fraudulent or manipulative conduct in the market for Bitcoin.

So now the SEC needs to re-evaluate the Grayscale application and other ETF filings with the new ruling in mind".

What Teeka Tiwari has said here is a huge step forward in order to get a host of Bitcoin spot ETF's approved by the SEC.

The SEC is meant to be making a decision on the Bitcoin spot ETF applications by the end of this week but it is likely that the SEC will delay the rulings but it can only do so for so long.

The hunger for Bitcoin and crypto on Wall Street is growing rapidly and eventually the SEC will cave into the pressure from the like's of Blackrock and Wall Street.

And when the SEC gives the green light, Billions of dollars will pour into Bitcoin overnight sending Bitcoin and probably the whole crypto market soaring in value.

This ruling could be the event and trigger for the start of the crypto bull run so if you are at all interested in investing in crypto and being part of the next and possibly last crypto bull run, now is the time to take action.

And you can prepare for the crypto bull run and navigate the crypto roller coaster by joining Teeka Tiwari's Palm Beach Letter service here.

So my advice is to keep your eye's peeled on what the SEC does with these applications over the coming weeks or possibly months because if the ETF's get approved, money will flood into Bitcoin and crypto.

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