{"id":459081,"date":"2023-11-22T15:58:51","date_gmt":"2023-11-22T15:58:51","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=459081"},"modified":"2023-11-23T06:22:41","modified_gmt":"2023-11-23T06:22:41","slug":"exploring-why-binance-and-czs-challenges-benefit-blackrock-spot-bitcoin-etfs-and-the-newly-launched-btcetf-token-which-has-already-raised-1-3-million","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/exploring-why-binance-and-czs-challenges-benefit-blackrock-spot-bitcoin-etfs-and-the-newly-launched-btcetf-token-which-has-already-raised-1-3-million","title":{"rendered":"Why The Humbling Of Binance And CZ Is A Boon For BlackRock, Spot Bitcoin ETFs And New $BTCETF Token That\u2019s Raised $1.34m"},"content":{"rendered":"<p>The settlement of criminal charges against Binance and its CEO, Changpeng Zhao (aka CZ) has sent shockwaves through the crypto industry. Still, the chances of a spot Bitcoin ETF approval have increased, which is good news for the new coin <a href=\"https:\/\/insidebitcoins.com\/visit\/btcetftoken\" rel=\"nofollow\">Bitcoin ETF Token<\/a> ($BTCETF).<\/p>\r\n\r\n\r\n\r\n<p>$BTCETF has raised $1.34 million in days, and its future value is tightly aligned with the price explosion expected to accompany the approval and launch of a spot Bitcoin ETF.&nbsp;<\/p>\r\n\r\n\r\n\r\n<p>To take advantage of the lowest available price for the innovative new token, buyers will need to move quickly as the current ICO stage ends in less than 48 hours, after which the price rises in Stage 5 of the ICO from $0.0056 to $0.0058.&nbsp;<\/p>\r\n\r\n\r\n\r\n<p>With Binance&rsquo;s global exchange shuttered in the US, a clear and present bad actor in the market, in the eyes of the US Securities and Exchange Commission (SEC), has been removed from the scene.&nbsp;<\/p>\r\n\r\n\r\n\r\n<p>The Bitcoin price traded erratically as news seeped out about the settlement. BTC is down around 2% to currently trade at $36,650, still within the trading range of the past week or so. The main loser as far as top cryptocurrencies are concerned has been BNB, the native coin of the BNB exchange ecosystem, which is down 10% at $235.&nbsp;<\/p>\r\n\r\n\r\n\r\n<h2 id=\"h-bitcoin-etf-token-by-design-will-be-a-major-beneficiary-as-way-ahead-for-spot-bitcoin-etf-is-cleared-after-biance-s-demise\" class=\"wp-block-heading\">Bitcoin ETF Token Positioned To Gain As Path Clears For Spot Bitcoin ETFs Following Binance&rsquo;s Downfall<\/h2>\r\n\r\n\r\n\r\n<p>Bitcoin ETF Token, which, by design, ties its value to the progress of a spot Bitcoin ETF approval and future product performance, is set to reap the rewards from the latest turn of events.&nbsp;<\/p>\r\n\r\n\r\n\r\n<p>Although the SEC civil charges against Binance are still on the table after the US Department of Justice settlement, in which Binance and CZ admitted to anti-money laundering and sanctions-busting crimes, a significant step forward has been made in cleaning up what the SEC alleges is weak market surveillance and an environment conducive to price manipulation in the crypto sector.<\/p>\r\n\r\n\r\n\r\n<p>Some crypto commentators have gone so far as to float the idea that giant asset manager BlackRock, which has submitted a spot Bitcoin ETF for approval by the SEC, has had a hand in pushing the DOJ into filing criminal charges against Binance and CZ.<\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/xNt8Gt02RT-1KqYeD1oUJnZF9farPAo9HsSHrRnQCiSzQQE7GKczH_-v2y7hA7TSsM6tAJSkR300tyaNLIlyPAe0kYVxmCLJTe5IPwxSGtKzm1YM6BMbkhLHwIj8wsXEmWYwG2Ij2SFRkjccg4GPV-g\" alt=\"\"><\/figure>\r\n\r\n\r\n\r\n<figure class=\"wp-block-embed\">\r\n<div class=\"wp-block-embed__wrapper\">\r\n<p><\/p><blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/BitcoinETF?src=hash&amp;ref_src=twsrc%5Etfw\">#BitcoinETF<\/a> introduces a 5% transaction burn tax, gradually reducing the <a href=\"https:\/\/twitter.com\/hashtag\/Token?src=hash&amp;ref_src=twsrc%5Etfw\">#Token<\/a> supply.<br><br>Targeting a 25% token burn as milestones are reached.<br><br>This strategy aims to reward holders and alleviate selling pressure with a deflationary approach. <a href=\"https:\/\/t.co\/UiheUjIZB8\">pic.twitter.com\/UiheUjIZB8<\/a><\/p>&mdash; BTCETF_Token (@BTCETF_Token) <a href=\"https:\/\/twitter.com\/BTCETF_Token\/status\/1727250638214434919?ref_src=twsrc%5Etfw\">November 22, 2023<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\r\n<p><span style=\"background-color: var(--bs-body-bg); color: var(--bs-body-color); font-family: var(--bs-body-font-family); font-size: var(--bs-body-font-size); font-weight: var(--bs-body-font-weight); text-align: var(--bs-body-text-align);\">Although such claims are highly likely to be wide of the mark, BlackRock is known to be well-connected to the institutions of power in Washington DC. The connections in the form of the individuals who have swapped between the various financial regulators and the firms they regulate have long been a source of discussion and claims of conflicts of interest.<\/span><\/p>\r\n<\/div>\r\n<\/figure>\r\n\r\n\r\n\r\n<p>Whatever the extent of informal connections between the two spheres, BlackRock and other big players in the traditional financial world who have decided to enter crypto are likely to be pleased that Binance is out of the way.<\/p>\r\n\r\n\r\n\r\n<p>As the <a href=\"https:\/\/www.justice.gov\/opa\/pr\/binance-and-ceo-plead-guilty-federal-charges-4b-resolution\">DOJ points out<\/a> in its charges against Binance, it grew its global business on the back of a large US customer base for its unregistered trading businesses. Now, with Binance out of the picture &ndash; although it&rsquo;s a much smaller Binance.US business, which is slowly atrophying, remains open &ndash; the likes of BlackRock and Fidelity will have one less potential competitor to worry about.<\/p>\r\n\r\n\r\n\r\n<h2 id=\"h-is-doj-and-the-sec-clearing-the-way-for-tradefi-to-enter-crypto-with-less-competition\" class=\"wp-block-heading\">Are The DOJ And SEC Paving The Way For Traditional Finance (TradeFi) To Muscle In On Crypto Industry With Reduced Competition?<\/h2>\r\n\r\n\r\n\r\n<p>And it is not just Binance that has been laid low. The regulators have thrown down the gauntlet to all crypto exchanges operating in the US: they must register with the requisite regulatory authorities as exchanges, broker-dealers, settlement houses, and custodians.&nbsp;<\/p>\r\n\r\n\r\n\r\n<p>Yesterday, Kraken was charged by the SEC with operating an unregistered securities business. This emerging regulation-through-enforcement landscape puts TradeFi&rsquo;s new entrants into crypto at an advantage over the pioneers who opened up crypto trading in the first place.<\/p>\r\n\r\n\r\n\r\n<p>As the dust settles and the bombshell reverberations subside, the implications of the Binance settlement will positively assert themselves for spot Bitcoin ETF prospects.&nbsp;<\/p>\r\n\r\n\r\n\r\n<p>Another beneficiary, counterintuitively perhaps to the line of argument above, is Coinbase. Coinbase is a very different exchange to Binance. Despite its current legal dispute with the SEC, it is probably the most regulatory-aligned of the exchanges operating in the US or elsewhere.<\/p>\r\n\r\n\r\n\r\n<p>Don&rsquo;t be too surprised when a settlement emerges between the SEC and the largest US exchange.&nbsp;<\/p>\r\n\r\n\r\n\r\n<p>BlackRock has already selected Coinbase as its partner in a recently agreed surveillance-sharing agreement. However, the relationships between TradeFi and Coinbase are much more extensive than the BlackRock relationship.<\/p>\r\n\r\n\r\n\r\n<p>Coinbase&rsquo;s top shareholders are fund behemoths Vanguard, Fidelity BlackRock, and Japan&rsquo;s Sumitomo Mitsui Trust Bank.&nbsp;&nbsp;<\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/RcKkM6ZHQnPKPvlJkl6QP51hPplyqWc4FWgcRG0_M81pSbEkRrekAFZxq1FvfcJJMI0uOfTSB7W-7fsAe_jEYjxKMDq3FohhiBfK97BTWKP_TWerc_ZhVP5DwGadevXdJHvWMkIUEmSE_JGA86QZi4M\" alt=\"\"><\/figure>\r\n\r\n\r\n\r\n<p><em>Source: Stockopedia, November 22, 2023<\/em><\/p>\r\n\r\n\r\n\r\n<h2 id=\"h-bitcoin-etf-token-enables-traders-to-position-today-for-future-bitcoin-etf-theme-profits\" class=\"wp-block-heading\">Bitcoin ETF Token Offers Traders An Opportunity To Strategically Position For Future Profits Linked To The Bitcoin ETF Theme<\/h2>\r\n\r\n\r\n\r\n<p>It is difficult to position investment portfolios to capture the value that the launch of a spot Bitcoin ETF promises to unleash. For example, should you buy Bitcoin in the open market or wait until the first spot ETF is launched and invest in that vehicle?<\/p>\r\n\r\n\r\n\r\n<p>There are also scammy coins popping up hoping to steal money from investors, such as the recently launched $ETF token that has pulled the rug on early investors.<\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/dnU-t7yRVwVXQUBthpJ47amXpAjWwqVUdswEaPBHPs47B0GuysnA_L0W4KvdmQDpxhZX_qzLipAHStvBUiTVG0aJGDQhfKMNVzjG3Ou-3M5OsFyGCVzH56DH40ERzQKzjCuQUWU4LArBG9TaumnfCd4\" alt=\"\"><\/figure>\r\n\r\n\r\n\r\n<p>Thankfully, the advent of the Bitcoin ETF Token makes investor decision-making much easier. Contribute to the $BTCETF Token presale today, and you will be exposed to an asset that is 100% aligned with the upside expected from the steady flow of ETF approvals coming down the pipe.<\/p>\r\n\r\n\r\n\r\n<p>$BTCETF tokens are available to be purchased in presale today. Buyers can start earning immediately by staking to receive an annual percentage yield, currently of 184%.&nbsp;<\/p>\r\n\r\n\r\n\r\n<p>144 million $BTCETF tokens have already been deposited into the staking smart contract. The APY is calculated dynamically, and rewards are disbursed over five years.<\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/9aaDRHZj3eE64U-XuCjq_AVxiTRLeCjrBs78n2mxX2kpQqir3-uwh0VKbZIhnMyyNcnsSGRtBtLbIcis3K74LjaD1SZtm3Xw4aW6VQCyrUvTjkZhuCsjaHUGocqJVKK2B8O7WouQZEnAUEuX8RgNIus\" alt=\"\"><\/figure>\r\n\r\n\r\n\r\n<p>As mentioned earlier, the <a href=\"https:\/\/insidebitcoins.com\/visit\/btcetftoken\" rel=\"nofollow\">Bitcoin ETF Token<\/a> links its valuation to the lifecycle of the spot Bitcoin ETF.<\/p>\r\n\r\n\r\n\r\n<p>For instance, the burn mechanism is tied to real-world events related to spot Bitcoin ETF news flow, where milestones such as approval, launch dates, and the level of assets under management (AUM) trigger burn events.<\/p>\r\n\r\n\r\n\r\n<p>For example, when the trading volume of $BTCETF reaches $100 million, the transaction tax reduces from 5% to 4%. There are other clever milestones, such as when the first spot Bitcoin ETF is approved, the transaction tax is reduced from 4% to 3%.<\/p>\r\n\r\n\r\n\r\n<figure><\/figure>\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/lIOf58JTpB_s-b6WpMYGB26uY016FAiOtTHYqjFlI13Pb1CH_cLx-J9sXxfz3Pxts6LSOg_xEmo7jv5IqkuAtbqNh87vFKzDq20QxPYGGL0I3_mGPDobqEjwe44PR2UtHDeJwIPMPVj9pusKmd2znus\" alt=\"\"><\/figure>\r\n\r\n\r\n\r\n<div>\r\n<p><\/p><blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/BitcoinETF?src=hash&amp;ref_src=twsrc%5Etfw\">#BitcoinETF<\/a> introduces a 5% transaction burn tax, gradually reducing the <a href=\"https:\/\/twitter.com\/hashtag\/Token?src=hash&amp;ref_src=twsrc%5Etfw\">#Token<\/a> supply.<br><br>Targeting a 25% token burn as milestones are reached.<br><br>This strategy aims to reward holders and alleviate selling pressure with a deflationary approach. <a href=\"https:\/\/t.co\/UiheUjIZB8\">pic.twitter.com\/UiheUjIZB8<\/a><\/p>&mdash; BTCETF_Token (@BTCETF_Token) <a href=\"https:\/\/twitter.com\/BTCETF_Token\/status\/1727250638214434919?ref_src=twsrc%5Etfw\">November 22, 2023<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\r\n<\/div>\r\n<div>&nbsp;<\/div>\r\n\r\n\r\n\r\n<p>$BTCETF is the perfect vehicle to position portfolios to profit from the spot Bitcoin ETF FOMO.<\/p>\r\n\r\n\r\n\r\n<p>Bitcoin ETF Token also has a deflationary burn mechanism that is price-supportive because it reduces the total token supply. $BTCETF launches with a 5% burn on all transactions. Up to 25% of the total token supply can be burned.<\/p>\r\n\r\n\r\n\r\n<p>Bitcoin ETF Token has a total supply of 2.1 billion (2,100,000,000). The project&rsquo;s website has a helpful newsfeed to keep you updated with all the news related to Bitcoin ETFs and the Bitcoin price.<\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/RRTEdtnKTgpqDQvqHNALabBS_mXEcFm4OsnKVbhCvj2KQbEK0HDByu1Z9Pp-tAx_IOEzaCPKekImR5b__uBXKoe6J9ut_7N3_npTe1PJmxUcJAJRUhpvtu3kpn8VKzu-SOTboaod-c_qY0DzNZk9Wb8\" alt=\"\"><\/figure>\r\n\r\n\r\n\r\n<p>The $BTCETF token is probably one of the smartest and cheapest ways to capture the alpha returns promised by launching a spot Bitcoin ETF. The token is in presale today and only costs $0.0056. There is a low hard cap total of $4,956,000 million, which is adding to the FOMO.<\/p>\r\n\r\n\r\n\r\n<p><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-09\/bitcoin-trades-past-36-000-on-possible-etf-investment-approval\">Bloomberg Intelligence analysts<\/a> James Seyffart and Eric Balchunas believe the chances of a spot Bitcoin ETF approval are 90%.&nbsp;<\/p>\r\n\r\n\r\n\r\n<p>On January 10, the ARK 21 Shares Bitcoin ETF comes up for consideration by the SEC, and the outcome of its deliberations will be closely watched by the market.&nbsp;&nbsp;<\/p>\r\n\r\n\r\n\r\n<p>There&rsquo;s no time to lose to position investment portfolios for what could be one of the most consequential moments in crypto history. <a href=\"https:\/\/insidebitcoins.com\/visit\/btcetftoken\" rel=\"nofollow\">Bitcoin ETF Token<\/a> is an excellent choice to help investors gain exposure to the profitable spot Bitcoin ETF investment theme, but do your research.&nbsp;<\/p>\r\n<p><a href=\"https:\/\/insidebitcoins.com\/visit\/btcetftoken\" rel=\"nofollow\">Visit Bitcoin ETF Token<\/a><\/p>\r\n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">The settlement of criminal charges against Binance and its CEO, Changpeng Zhao (aka CZ) has sent shockwaves through the crypto industry. Still, the chances of <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/exploring-why-binance-and-czs-challenges-benefit-blackrock-spot-bitcoin-etfs-and-the-newly-launched-btcetf-token-which-has-already-raised-1-3-million\" title=\"Why The Humbling Of Binance And CZ Is A Boon For BlackRock, Spot Bitcoin ETFs And New $BTCETF Token That\u2019s Raised $1.34m\">[&#8230;]<\/a><\/div>","protected":false},"author":1872,"featured_media":455771,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[],"class_list":["post-459081","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why The Humbling Of Binance And CZ Is A Boon For BlackRock, Spot Bitcoin ETFs And New $BTCETF Token That\u2019s Raised $1.34m - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"The settlement of criminal charges against Binance and its CEO, Changpeng Zhao (aka CZ) has sent shockwaves through the crypto industry. Still, the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/459081\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why The Humbling Of Binance And CZ Is A Boon For BlackRock, Spot Bitcoin ETFs And New $BTCETF Token That\u2019s Raised $1.34m\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-22T15:58:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-23T06:22:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/11\/Bitcoin-ETF-Token-Profitable-Crypto.png\" \/>\n\t<meta property=\"og:image:width\" content=\"584\" \/>\n\t<meta property=\"og:image:height\" content=\"313\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Michael Abetz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Michael Abetz\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/459081#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/459081\"},\"author\":{\"name\":\"Michael Abetz\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/b1e832270e586ba2e1f1f920b29c8121\"},\"headline\":\"Why The Humbling Of Binance And CZ Is A Boon For BlackRock, Spot Bitcoin ETFs And New $BTCETF Token That\u2019s Raised $1.34m\",\"datePublished\":\"2023-11-22T15:58:51+00:00\",\"dateModified\":\"2023-11-23T06:22:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/459081\"},\"wordCount\":1307,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/459081#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/11\/Bitcoin-ETF-Token-Profitable-Crypto.png\",\"articleSection\":[\"Breaking Crypto News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/459081#respond\"]}],\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/459081\",\"url\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/459081\",\"name\":\"Why The Humbling Of Binance And CZ Is A Boon For BlackRock, Spot Bitcoin ETFs And New $BTCETF Token That\u2019s Raised $1.34m - InsideBitcoins.com\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/459081#primaryimage\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/459081#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/11\/Bitcoin-ETF-Token-Profitable-Crypto.png\",\"datePublished\":\"2023-11-22T15:58:51+00:00\",\"dateModified\":\"2023-11-23T06:22:41+00:00\",\"description\":\"The settlement of criminal charges against Binance and its CEO, Changpeng Zhao (aka CZ) has sent shockwaves through the crypto industry. 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