Earlier, Bitcoin dropped below the $30,000 mark after briefly dominating above $31,000.
Blackrock and Fidelity were not sufficiently clear and comprehensive.
Bitcoin (BTC), the largest cryptocurrency by market capitalization, has experienced a significant drop, sending shockwaves through the crypto market. A report revealing the U.S. Securities and Exchange Commission’s comment on asset managers’ application for the launch of spot Bitcoin exchange-traded funds was the cause of this decline.
On June 30, according to the SEC, the filings made for the Bitcoin exchange-traded funds (ETF) by Blackrock and Fidelity were not sufficiently clear and comprehensive. The SEC’s reaction to the BTC ETF filings has directly impacted the BTC trading price. After the comment, the trading price of BTC experienced a drop of nearly 1%.
Traditional Finance’s Interest in Digital Asset Sector
On June 16, Blackrock, the global asset management company, filed an application for a Bitcoin spot ETF. Th
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