BlackRock is the largest investment company in the world by assets under management and is in good standing with US regulators. When the Fed decided in 2020 to buy securities through ETFs to support the US economy, half of the volume went to BlackRock funds.

This explains why it's highly anticipated that spot Bitcoin ETFs will be approved in the next six months since BlackRock also submitted an application to the SEC in the summer.

The company thinks the odds of approval are high and anticipates a significant rise in Bitcoin's price once the application is approved. According to various estimates, in the first six months after the ETF launch, there will be $5 to $10 billion in new demand for the cryptocurrency, whose price will rise to between $50,000 and $120,000.

In mid-August, it was reported that BlackRock bought shares in four major mining companies, spending over $400 million in total. This year, the shares of most leading miners have already risen several-fold, outpacing the change in mined cryptocurrency. The situation could repeat itself if ETF applications are approved.

BlackRock is also credited with significant activation in the Bitcoin spot market. According to IntoTheBlock, whales have accumulated $1.5 billion worth of coins in a fortnight. This is a significant change in behaviour, as back in July, they were pouring 16,000 BTC per day into crypto exchanges, and their share in the total coin inflow reached 41%.

Explaining his firm's recent investment decisions, BlackRock CEO Larry Fink described Bitcoin as digital gold and an international asset that can potentially provide protection against inflation. The recognition of the cryptocurrency's role by a leading financier increases the chances of Bitcoin's further expansion. 

StormGain Analytical Group 
(platform for trading, exchanging and storing cryptocurrency)