Cardano Founder Finds Fault With Blackrock Bitcoin ETF

Anvesh Reddy
June 17, 2023 Updated May 16, 2025
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Cardano Founder Charles Hoskinson Backs John Deaton

Crypto Market News: From Blackrock chief executive officer Larry Fink calling Bitcoin “an index of money laundering” in 2017, the world’s largest asset manager came a long way in terms of crypto market adoption. Later, Blackrock made a turnaround and decided to form a working group to study crypto and blockchain technology. This turnaround is akin to JP Morgan CEO Jamie Dimon’s skepticism on the crypto assets. Yet, the Wall Street bank continues to build products around crypto and web 3.0.

Also Read: Rug Pull Alert: List Of Altcoins Celsius Network Will Sell On July 1st

Mainstream financial companies have all initially been resistant to cryptocurrencies. However, it is argued that the Wall Street giants would like to have significant share in the crypto market before the United States regulators lay out clear rules for the industry.

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Blackrock Vs Bitcoin

Cardano founder Charles Hoskinson criticized the Bitcoiner community’s welcoming of the Blackrock Bitcoin ETF application. This is apparently because Blackrock represents a massive chunk of traditional businesses whose values are not aligned to the vision behind Bitcoin philosophy, which is decentralization. He said,

“Bitcoiners defending Blackrock is all you need to know about their ethics, mental state, and greed.”

Meanwhile, it remains to be seen if and when the U.S. Securities and Exchange Commission (SEC) would take a decision on the Bitcoin ETF application. An approval mean massive inroads to mainstream adoption of the crypto market, considering the wide range of portfolio companies Blackrock manages.

Also Read: Bakkt Delists Cardano, Polygon and Solana on Regulatory Grounds

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at [email protected] or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.