BlackRock, Vanguard, GrayScale, and Fidelity have now strengthened their ties with the SEC as they want to increase their dominance over Bitcoin and Cryptocurrencies like Gold, Bond, USD, EUR, and YEN. And those who are to come will be able to rule over the institutional future even in the future. So they want the SEC (Securities Exchange Commission) to do for them what the SEC does for the US Congress and the USD. And support investors coming from BlackRock, Fidelity, and Grayscale for new financial technologies. It is very difficult for the SEC to take steps like Bonds, Stocks, Financial Sectors, and Bitcoin ETFs because it is not easy for SEC and American investors to keep such dominance and secureness of Bitcoin and USD in the world.
Why does BlackRock want to buy up to 45% of the total Dominance of Bitcoin in global financial assets?
Because BlackRock’s BitcoinETFs have been postponed for a long time. In this way, SEC, US Congress, Banks, and BlackRock want that they should get at least this much dominance up to 45% because if this does not happen then BlackRock, Fidelity, GrayScale, and Vanguard will suffer the most. It is also believed that if GrayScale, Vanguard, and BlackRock get ETFs, it will only hurt BlackRock because up to $4 Trillion USD can be invested in Bitcoin including China’s Investment, Institutions, banks, and Financial Services. Recently, the SEC has wanted to ban crypto exchanges like Kraken, Coinbase, Binance, and FTX so that they do not make any such mistake in future which could harm the likes of BlackRock, USD, and World Bank.
Why do the SEC and US Congress want dominance on Crypto exchanges to approve Bitcoin Trading Platforms?
However, the US Congress and SEC have two options to dominate all the crypto exchanges around the world. First of all, there are USD and gold-based businesses inside the US and outside it and if the SEC takes any step then it impacts the entire world. The second is that the SEC has BlackRock, Vanguard, Fidelity, and many banks that have many applications of Bitcoin ETFs from their side. In such a situation, the SEC and the US government are trapped due to the attraction between the SEC, US Congress, US banks and financial industries, and the Bitcoin ETFs. So now it is also being said that Bitcoin ETFs will have to be accepted by SEC and global banks and securities but for now, SEC and banks are making very big changes to target private Crypto Industries. At the same time, BlackRock, Fidelity, Vanguard, and also have followed before SEC that Bitcoin should not go out of their hands and it should not reach $150,000 before getting Bitcoin ETF.