New SEC update lets BlackRock open Wall Street to unusual investors

Large asset managers like BlackRock (NYSE: BLK) are luring Bitcoin whales to Wall Street as per a recent report by Bloomberg. BlackRock, which launched spot Bitcoin exchange-traded funds (ETFs) in the U.S. in January 2024, is helping the wealthy crypto holders find a way to assimilate into the traditional financial system without selling their assets. Related: What is Crypto? Cryptocurrency explained In simple words, ​a spot Bitcoin ETF is a financial product traded on traditional stock exchanges that se ...