Earlier today, major news platform Altcoin Daily tweeted “Is BlackRock looking into Cardano?” This triggered varied reactions across the crypto community on Twitter, with most of the members optimistic about a potential collaboration. Moreover, one user predicted that the investment management company would be investing in all the top thirty coins.
Is BlackRock looking into Cardano? pic.twitter.com/QBx7u8N2uQ— Altcoin Daily (@AltcoinDailyio) October 1, 2023
The conversation started after the U.S. Securities and Exchange Commission (SEC) postponed its rulings on several additional Bitcoin ETF proposals, following its recent postponement of decisions for Ark 21Shares and GlobalX until January. These latest anticipated delays, filed on Thursday, specifically pertained to the Bitcoin ETF applications submitted by BlackRock, Valkyrie, and Bitwise. Crypto analytics platform Analytics Insight emphasized the significance of BlackRock’s BTC ETF in bringing “fresh money” to Cardano (ADA). An article stated:
BlackRock’s Bitcoin ETF emerging as a pivotal player…is poised to inject fresh capital into various digital assets, including Bitcoin and promising cryptocurrencies like Cardano, Shiba Inu, and Bitcoin Spark.
Crypto trader BullishAlex also expressed confidence in Cardano ETFs, noting that, “In the future, a Cardano ETF is inevitable.” Similarly, another popular crypto-related Twitter account noted that BlackRock venturing into Cardano would potentially indicate a growing recognition of Proof-of-Stake (PoS) blockchain networks. Additionally, it would drive a, “shift in institutional interest towards more environmentally sustainable blockchain technologies.”
On the other hand, amidst the SEC’s delay in approving Valkyrie’s application for an ETH futures contract, the asset management company has announced that it will provide United States investors with exposure to ETH futures alongside its existing Bitcoin Strategy ETF. According to a spokesperson from Valkyrie, the Bitcoin Strategy ETF will grant investors access to both Bitcoin and Ether futures within a single investment vehicle. Effective October 3, the fund will undergo a name change to become the Valkyrie Bitcoin and Ether Strategy ETF.