Blackrock Submits Bitcoin ETF Application (06.15.23)

BlackRock, the world's largest asset manager, has filed with the U.S. Securities and Exchange Commission (SEC) for a bitcoin ETF that will allow investors to access cryptocurrencies. BlackRock's iShares Bitcoin Trust will use Coinbase Custody as its trustee. Last year, BlackRock had launched a spot bitcoin private trust for institutional clients in the United States. A spot Bitcoin ETF would track the underlying market price of Bitcoin and provide investors with exposure to Bitcoin without buying it outright. This comes at a time when the cryptocurrency industry is under strict scrutiny from the SEC. Despite rejections of applications for spot bitcoin ETFs from companies such as Grayscale, Fidelity, Cboe Global Markets and NYDIG, experts see BlackRock's application as a positive sign for possible regulatory approval. (Source)

  • Growth through innovation/creativity:
    Rather than being constrained by ideas for new products, services and new markets coming from just a few people, a Thinking Corporation can tap into the employees.
  • Increased profits:
    The corporation will experience an increase in profits due to savings in operating costs as well as sales from new products, services and ventures.
  • Higher business values:
    The link between profits and business value means that the moment a corporation creates a new sustainable level of profit, the business value is adjusted accordingly.
  • Lower staff turnover:
    This, combined with the culture that must exist for innovation and creativity to flourish, means that new employees will be attracted to the organisation.