BlackRock is Applying to Launch a Blockchain Fund

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Today’s Cryptocurrency Headline

BlackRock, the world’s largest asset manager, is applying to launch a blockchain fund called the “iShares Blockchain and Tech ETF,” which will track NYSE FactSet Global Blockchain technical index, according to an SEC filing submitted by BlackRock. The document shows the proposed fund plans to invest at least 80% of its assets in stock indices and the remaining 20% in futures, options and swaps contracts, as well as cash and cash equivalents. The fund will not invest directly or indirectly through crypto derivatives on cryptocurrencies. According to public data, BlackRock’s assets under management total about $10 trillion. Last October, BlackRock CEO Larry Fink told CNBC in an interview that there was a huge opportunity for digital currencies.

BingX’s Bitcoin Chart

Bitcoin price analysis predication drop
Source: TradingView& BingX

According to CoinGecko data, the current market value of cryptocurrencies is $1.7 trillion, the current market value of Bitcoin accounts for 38.5%, and the market value of Ethereum accounts for 17.1%. The 24-hour trading volume is 100.5 billion US dollars. BTC panic selling continued during the weekend, and the price dipped to $34,000 on Saturday morning. BTC had a slight bounceback today and is currently trading around the $35,000 price level. If buyers can hold the price above $35,000, BTC could bounce back to the mirror level at $39,500. However, the bears will attempt to resume the downtrend and sink the price to the major support at $30,000.

 

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