CRYPT — The price of a single bitcoin surpassed $30,000, matching the amount reached in March just before a US-led crypto crackdown. This caused the market value of bitcoin, ethereum and other cryptocurrencies to increase by nearly $100 billion in just one week. Now, as BlackRock’s exchange-traded fund (ETF) offering causes a flood of files, billionaire co-founder of New York-based cryptocurrency exchange Gemini, Cameron Winklevoss, has issued a warning that the ” window” to buy bitcoin before ETF “floodgates” “open” means “quick close”.
The warning comes as BlackRock’s exchange-traded fund (ETF) offering triggers a flood of deposits. Cameron Winklevoss, who along with his brother Tyler switched to bitcoin and crypto after settling their battle with Facebook CEO Mark Zuckerberg over the formation of the social media industry, said on Twitter: ” The great accumulation of bitcoin has begun.” Cameron and Tyler Winklevoss founded Facebook with their brother Tyler. “Anyone watching the flurry of ETF filings understands that the window to buy pre-IPO bitcoin before ETFs go live and open the floodgates is closing quickly,” he said, implying that the entry of institutional investors will be similar to an initial public offering (IPO) of bitcoins. IPO is an abbreviation for “IPO”.
Late last week, the United States Securities and Exchange Commission (SEC) gave its approval to the first leveraged bitcoin futures exchange-traded fund (ETF). The Volatility Shares 2x Bitcoin Strategy ETF (BITX) is now set to debut on the Chicago Board Options BZX Exchange on Tuesday, June 27. which fueled anticipation that regulators might approve BlackRock’s groundbreaking ETF proposal. “I think this could be a breadcrumb trail meaning that the SEC could take a more lenient stance toward bitcoin versus the very adversarial stance they’ve had toward bitcoin over the past few years,” James said. Seyffart, Bloomberg Intelligence ETF analyst, to Bloomberg. . “I think that might be a breadcrumb trail that the SEC might take a more lenient stance toward bitcoin.”
