Blackrock Comes to Bitcoin

Plus a big new price target for post ATH ETH

Happy Wednesday, Blockfolians

The Lede

It’s been the story since last May. A big, storied firm — one that just a few short years ago never would have even looked at Bitcoin — announces that its getting in the game.

The latest institutional domino to fall is the world’s biggest asset manager Blackrock. Blackrock has approximately $7.81 TRILLION in assets under management. For the last few months, Blackrock has been giving some positive verbal indications towards bitcoin in interviews with leadership on CNBC, etc.

Today, however, we learned that two of their funds have filed with the SEC to be allowed to buy bitcoin futures.

The filings don’t assure us that they will buy bitcoin, or who they’ll use to do it, or at what scale. But it’s still a remarkable moment in showing just how far the industry has come in terms of legitimacy with the world’s biggest financial players.

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A Really Big Number We Should Be Paying Attention To

$10,500

That’s the latest ETH price target from Fundstrat


Final Thought