Blackrock, Blackrock, Blackrock….the world’s most dominant financial
company is coming for crypto….their Spot Bitcoin ETF is trending to get approval,
reports from the company say Bitcoin is the most dominant asset in an investment portfolio,
and they just may be diving into other crypto assets. So don’t fear the market
in its current state….aka don’t fear the reaper…because it’s time for Chico Crypto!!!
Well if you’ve been hiding under a rock for this year, you wouldn’t have heard
the news. But the world’s largest asset manager has filed for a Spot Bitcoin ETF,
and their ETF applications to the SEC have 99.8 percent approval rate, in their history, only 1
ETF has ever been rejected by the SEC….and 575 have been approved
The likelihood of approval based on these stats are good…although last month…there were rumors
of a rejection spreading in the news airwaves, as the SEC said the application was inadequate
...although this was because they didn’t list a custodiann in their application…
The applications have been fixed, Coinbase is the custodian for
Blackrock…the application is refiled, and the SEC has accepted the application
Regarding the recent developments, Bloomberg financial and ETF analysts,
James Seyyfart & Eric Balchunas…have increased their odds of an approval up to 65 percent….
Personally, due to Blackrock's ties to the government…I would
put the odds of approval up to 90 percent….
If you didn’t know, Brian Deese is a former Blackrock Executive Lead,
head of sustainable investing from 2017 to 2020, well Deese is now Joe Biden’s
director of the National Economic Council, the top economic adviser at the White House.
Wally Adeyemo, was a Blackrock Senior Advisor from 2017 to 2020, well Wally is now Joe
Biden’s Deputy Secretary of the treasury, the number 2 position of the Treasury Department…
Finally Eric Van Nostrand, Blackrock executive lead,
managing director for multi asset strategies at Blackrock from 2016 to today, is now apart
of Joe Biden’s Treasury Department, Senior Advisor on Economic Issues.
Blackrock and Joe Biden’s economic team are highly connected. An approval for their
ETF is very, very likely, in my opinion…due to this.
Then if you didn’t know, Blackrock put out a report last year in 2022,
as we can see all the authors are off Blackrock Inc….and on page 10,
due to their analysis…they say this “Exhibit 4 presents the results. Starting with a 60-40
equity-bond portfolio, which is produced with a risk aversion of 𝛾 = 1.50, the optimal BTC
allocation is a large 84.9%! The remainder of the portfolio, 15.1% is split 60-40 between
equities and bonds. Although BTC has an extremely large volatility of 1.322
the pronounced positive skewness leads to large allocations and dominates in the utility function”
Blackrock is recommending a portfolio being nearly 85 percent Bitcoin for the best returns!!!
But what many people don’t realize…is Blackrock is
getting into the Bitcon mining game .and has been since 2021….
As we can see, from this 2021 SEC document, Core Scientific a North American Bitcoin Miner and
Power Digital infrastructure acquisition corp (XPDI) merged so Core could list on
Nasdaq….from the filing “XPDI believes that Core Scientific presents an opportunity to invest in a
leader in multiple XPDI target industry sectors of blockchain and frontier technology infrastructure.
XPDI is a special purpose acquisition company with a blockchain infrastructure focus supported
by BlackRock, the world’s largest asset manager and the anchor investor in XPDI”
By default through the merger…Blackrock became the largest shareholder in Core
Scientific ... ..and they doubled down on Core Scientific earlier this year when Blackrock was
part of a 500 million dollar funding round for the company…increasing their shares in the company…
Blackrock is deep into Bitcoin….but what about those altcoins? Well, before we get into that,
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Now back to those altcoins, Blackrock may be diving deep into….
Now Blackrock has only named one Altcoin by name, that they are following the progress
of…that is Energy Web. They announced this when they announced the Blackrock
Bitcoin Private trust. They said “BlackRock is encouraged that organizations such as RMI
and Energy Web are developing programs to bring greater transparency to sustainable
energy usage in bitcoin mining, and will follow progress around those initiatives.”
I’ve talked about this before,
so I don’t want to dive any deeper. It’s obvious Blackrock is a fan of EWT…
But below in that article Blackrock says this “BlackRock recently announced
a partnership with Coinbase that will provide common clients of Aladdin and
Coinbase access to the digital assets trading lifecycle through connectivity
between Coinbase and the Aladdin platform, starting with bitcoin.”
Their Coinbase partnership & Starting with Bitcoin is the key….
So what types of assets could be after Bitcoin? Well Larry Fink,
CEO of Blackrock, recently said this about the “altcoins” they may be looking at…
They want to tokenize securities ... .now remember, Blackrock has a partnership with
Coinbase…Coinbase just launched BaseChain and when they launched this in February, I showed
that the chain was going to be for tokenized securities & Blackrock was likely involved.
The tokens Involved? Ethereum of course, since Basechain is a layer 2 for Ethereum…but also
Chainlink, in the video I showed why and Gnosis Chain, where I dove deep also into
why!! If you want to watch the full video, I have linked it down in the description!
Well viewers, if you enjoyed the content make sure to subscribe! Follow me on my socials
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and of course come join the chat on telegram. t.me/chicoccrypto…Cheers I’ll see you next time!!