BlackRock's Revised Bitcoin ETF Filing Opens Doors for U.S. Banks

BlackRock's revised filing for a spot bitcoin ETF allows authorized participants (APs), including U.S. banks like JPMorgan and Goldman Sachs, to create new fund shares with cash instead of cryptocurrency, enabling them to participate in the ETF ecosystem despite restrictions on holding cryptocurrencies. Meanwhile, Binance and its CEO, Changpeng Zhao, have filed a reply to the SEC's lawsuit, arguing that the regulator did not meet the requirements of the "Howey Test." Additionally, crypto mogul Justin Sun assures users that assets held on HTX and Poloniex are safe after a recent hack that saw over $200 million stolen from the exchanges.