People are happy about the prosperity of the currency industry, but whether this is just a false prosperity or a trap of luxury is indeed worth pondering.Let's review the timeline:On October 16th, a fake news claim claimed that the BlackRockETF had been approved, causing the price of Bitcoin to rise to $30000 and triggering the explosion of short positions
People are happy about the prosperity of the currency industry, but whether this is just a false prosperity or a trap of luxury is indeed worth pondering.
Let's review the timeline:
On October 16th, a fake news claim claimed that the BlackRockETF had been approved, causing the price of Bitcoin to rise to $30000 and triggering the explosion of short positions. Although this news was later proven to be false and appeared to be released by an intern at Cointelgraph, it did result in significant losses in short positions. Meanwhile, BlackRock stated that they are still waiting for approval from the ETF, but are preparing to resubmit their application on the 18th.
On October 18th, BlackRock resubmitted its ETF application, but at this point, the specific application status may not be known (please note that this is only submission, not approval).
On October 19th, BlackRock's ETF application was made public, which means that the application has been submitted to regulatory authorities and the relevant information is already visible in the public database.
When a company or fund submits FormN-1A or any other form to the Securities and Exchange Commission (SEC) on a specific date, it should be understood that this does not mean that the submitted documents will be immediately open to the public on that day.
Firstly, the submitted documents must be processed through the SEC's Electronic Data Gathering, Analysis, and Retrieval system (EDGAR), which is the SEC's online public database. Once the file is uploaded and processed through the EDGAR system, it will become available for public viewing in the EDGAR database.
Usually, this processing will be completed on the day of submission or within one to two days thereafter, but it may also take longer.
On October 23rd, the market experienced a relatively calm period of 4 days, with the K-line chart showing a slight increase in prices. Then, @ SGJohnsson posted a tweet at 11:23 that evening, mentioning the matter of CUSIP. Subsequently, Eric Balchunas, a senior ETF analyst at Bloomberg, also released relevant information, further sparking market attention and discussion.
But both of them mentioned in subsequent tweets that this was just Blackstone's application preparation, not approval, and then the market was pulled to 35000, once again exploding empty.
How does Blackstone make money from ETFs?
Management fees
ETF "Management fees"""ETF ETF 0.10%1000 1
Creation and redemption fees
When market participants want to create or redeem a large market share of ETFs (commonly referred to as "creative units"), they may need to pay fees related to this process. These fees are usually used to cover transaction costs related to the creation and redemption process.
Other service fees
ETF Management fees& Creation and redemption fees
Right or wrong is not important, how to make money is the most important thing
The following is an irresponsible analysis:
If we just wait for the ETF to pass, the money we can make is too small, and now a wave of operations can earn at least three times:
First wave: ETF explodes through false messages (completed)
Second wave: ETF is about to explode again through false news (completed)
Third wave: ETF rejection of true news explosion (incomplete)
The third wave has not yet arrived, and of course I hope the ETF will pass, but this matter has been revealing eerie from the beginning to the present.
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