BlackRock has taken an important decision that will affect the crypto space as well. The financial giant decides to go cash only just ahead of Christmas. Check out more details about this and what it means below.
BlackRock goes cash only
Here’s the tweet that revealed what’s going on with the company below:
BlackRock has gone cash only. That’s basically a wrap. Debate over. In-kind will have to wait. It’s all about getting ducks in row bf holidays. Good sign. https://t.co/vgocs1aIwS
— Eric Balchunas (@EricBalchunas) December 19, 2023
“Yes, take in cash and then btc to create new shares and vice versa. Basically can’t hand in btc in exchange for etf shares like in most ETFs,” the notes continued.
🚨BREAKING: BlackRock pivots to cash-based redemptions in spot #Bitcoin ETF proposal. pic.twitter.com/7d1tKWB6aM
— Titan of Crypto (@Washigorira) December 19, 2023
Here’s an interesting issue that Vivek Ramaswamy made sure to point on via the social media platform X as well:
“BlackRock, State Street, & Vanguard represent arguably the most powerful cartel in human history: they’re the largest shareholders of nearly every major public company (even of each other) & they use *your* own money to foist ESG agendas onto corporate boards – voting for “racial equity audits” & “Scope 3 emissions caps” that don’t advance your best financial interests.”
He continued and said the following:
“This raises serious fiduciary, antitrust, and conflict-of-interest concerns. As President, I will cut off the real hand that guides the ESG movement – not the invisible hand of the free market, but the invisible fist of government itself.”
People appreciate him for speaking out about these matters, which are considered taboo by many these days.
