BlockBeats news, on October 21, Bloomberg reported that large Bitcoin holders are transferring their wealth from the Blockchain to Wall Street's balance sheets. The new generation of ETFs provides a way for crypto billionaires to integrate their digital wealth into the regulated financial system—without selling Bitcoin, and by operating through funds managed by large asset management companies like BlackRock Inc. A regulatory change this summer opened the door for large investors: they can hand over Bitcoin to ETFs in exchange for shares of the fund. This is known as physical exchange for shares, commonly used in most ETFs, but only received approval for Bitcoin products in July this year.
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