The pump-and-dump of the XRP on Monday was triggered by reports of BlackRock's filing for an ETF in the U.S., which was confirmed to be fake, with the firm's exec saying it was made by "some whacko."
U.S. regulators made their stance about 'crypto' clear, with the SEC taking 784 enforcement actions against 'crypto' firms and individuals in 2023, while the CFTC filed 96 digital asset cases.
The U.S. Court of Appeals for the D.C. Circuit ruled that the SEC had failed to justify its rejection of the Grayscale spot ETF, particularly in light of approvals given to ETF applications.
Figures show that MicroStrategy has spent $2.49 billion on BTC since 2020, with its price pumping at an average of $29,586, while the firm's revenues were up three percent from last year.
Many in the so-called "crypto" industry herald the coming of spot ETFs as the 'opening of the BTC floodgates' to the average investor, practically assuring the jump in BTC price as a result.
The hike in BTC's fiat price last week is not because it is a "digital gold" with actual utility but based on rumors that the U.S. securities regulator is close to stamping its approval to BlackRock's IBTC ETF application.
Bitcoin thought leader Joshua Henslee released an intriguing video this week asking whether the BlackRock ETF could be a Bitcoin basket holding BSV, BCH, BTC, and eCash.
Scaramucci's request follows the ramping up of enforcement actions by the U.S. securities regulator against illicit actors in the digital asset space and a recent loss against Grayscale Investments in court.
In his new video, Joshua Henslee speculates on whether BSV and BCH pumping has anything to do with BlackRock buying them after referring to them in their ETF application.
The U.S. securities regulator believes the flurry of ETF applications it has received in recent weeks are “inadequate” and thus not likely to receive the regulator’s stamp of approval, the Wall Street Journal reported.
The digital asset market has its optimism renewed following BlackRock's application to start a spot BTC ETF, but with ETFs' grim history with the SEC, this could prove to be a long shot for the firm.