Which Organizations Are Supporting Bitcoin?

Bitcoin ETF is becoming one of the biggest keywords in the Crypto market and it is clear that applications for Bitcoin ETF Spot are being submitted by the big guys. So which organizations are supporting Bitcoin, especially Bitcoin ETF Spot, let’s find out in the article below.

To better understand which organizations are supporting Bitcoin, people can refer to some of the articles below:

• What is Bitcoin? All About Bitcoin
• What is a Bitcoin ETF? Bitcoin ETF Spot, Bitcoin ETF Future & Exploding Dynamics of the Crypto Market

Which Organizations Are Supporting Bitcoin

Blackrock – Tycoon in the financial sector

BlackRock is a global asset management company headquartered in New York City, United States. The company was founded in 1988 by Larry Fink, Robert Kapito, Susan Wagner and Barbara Novick. BlackRock is the world’s largest asset management company, with more than $10,000 billion in total assets under management as of September 2023.

BlackRock offers a range of asset management products and services, including:

• Mutual Funds: BlackRock offers a variety of mutual funds, including stock funds, bond funds, hybrid funds, and ETFs.
• Index funds: BlackRock is the world’s largest index fund manager. The company offers a variety of index funds, including stock funds, bond funds, and ETFs.
• Retirement Funds: BlackRock provides retirement asset management solutions for individuals, businesses and institutions.
• Personal Wealth Management: BlackRock provides personal wealth management services to individuals with significant assets.

All of the above makes BlackRock one of the most influential firms on Wall Street. Some classic examples include:

• In 2008, BlackRock played a key role in resolving the global financial crisis. The company helped the U.S. government buy back defaulted mortgages, helping to stabilize financial markets.
• In 2020, BlackRock invested billions of dollars in major technology companies, such as Apple, Microsoft, and Amazon. This has helped boost the share prices of these companies and contributed to the growth of the stock market.
• In 2022, BlackRock called on companies to increase employee salaries to address inflation. This call has been responded to by many large companies.

BlackRock’s influence on Wall Street has caused some controversy. Some people worry that BlackRock is too big and could manipulate financial markets. Others worry that BlackRock has too much power over companies and governments. Despite the controversies, BlackRock remains a company that has a major influence on Wall Street and the global economy.

In the past, BlackRock has been quite cautious towards Bitcoin. BlackRock CEO Larry Fink once called Bitcoin “something that just shows how much money laundering there is in the world.” However, in recent years, BlackRock has begun to change its stance on Bitcoin. In 2022, BlackRock began researching Bitcoin and other cryptocurrencies. The company has also begun partnering with cryptocurrency companies, such as Coinbase.

In June 2023, BlackRock filed an application with the U.S. Securities and Exchange Commission (SEC) to establish a spot Bitcoin ETF. If approved by the SEC, the fund will allow institutional investors to invest in Bitcoin. This is a major turning point for BlackRock, because it shows that the company is ready to enter the Bitcoin market.

Fidelity – Big guy on Wall Street

Fidelity is a global financial services company headquartered in Boston, Massachusetts, United States. The company was founded in 1946 by Edward C. Johnson II. Fidelity is the second largest asset management company in the United States, with more than $11,000 billion in assets under management as of September 2023. Fidelity has operations in more than 40 countries and territories around the world . The company has more than 50,000 employees globally.

Fidelity offers a wide range of financial products and services, including:

• Mutual Funds: Fidelity offers a variety of mutual funds, including stock funds, bond funds, hybrid funds, and ETFs.
• Wealth management services: Fidelity provides individual and institutional wealth management services.
• Investment banking services: Fidelity provides investment banking services to institutions and individuals.
• Credit card services: Fidelity provides credit card services to individuals.

In the past, Fidelity has been quite cautious about Bitcoin. Fidelity CEO Abigail Johnson once said that Bitcoin is “a high-risk speculative asset”. However, in recent years, Fidelity has begun to change its stance on Bitcoin. In 2020, Fidelity began researching Bitcoin and other cryptocurrencies. The company has also begun partnering with cryptocurrency companies, such as Coinbase.

In June 2022, Fidelity filed an application with the U.S. Securities and Exchange Commission (SEC) to establish a spot Bitcoin ETF. If approved by the SEC, the fund will allow institutional investors to invest in Bitcoin.

Franklin Templeton – Big name in the financial industry

Franklin Templeton Investments is a global asset management company headquartered in San Mateo, California, United States. The company was founded in 1948 by Charles D. Ellis and Edward C. Johnson II. Franklin Templeton is one of the world’s largest asset management companies, with more than $1,300 billion in assets under management as of September 2023. Franklin Templeton has operations in more than 40 countries and territories In the world. The company has more than 13,000 employees globally.

Franklin Templeton offers a range of wealth management products and services, including:

• Mutual Funds: Franklin Templeton offers a variety of mutual funds, including stock funds, bond funds, hybrid funds, and ETFs.
• Wealth management services: Franklin Templeton provides individual and institutional wealth management services.
• Investment banking services: Franklin Templeton provides investment banking services to institutions and individuals.
• Portfolio Management: Franklin Templeton provides portfolio management services to individual and institutional investors.

In the past, Franklin Templeton was quite cautious about Bitcoin. In June 2023, Franklin Templeton applied to the US Securities and Exchange Commission (SEC) to establish a spot Bitcoin ETF. If approved by the SEC, the fund will allow institutional investors to invest in Bitcoin.’

Invesco – Investment fund managing 1.5 trillion US dollars

Invesco is a global asset management company headquartered in New York, United States. The company was founded in 1976 by George Putnam and James Stowe. Invesco offers a wide range of investment products, including mutual funds, ETFs, closed-end funds and other passive investment products.

Invesco offers a range of investment products, including:

• Mutual fund: Invesco offers a variety of mutual funds, including stock funds, bond funds, and hybrid funds.
• ETFs: Invesco offers a range of ETFs, including stock funds, bond funds and commodity funds.
• Closed Fund: Invesco offers several closed-end funds, including stock funds, bond funds and hybrid funds.
• Investment consulting services: Invesco provides investment consulting services to institutional and individual investors.

Invesco has been cautious about investing in Bitcoin. The company has not invested directly in Bitcoin, but has invested in Bitcoin-related companies, such as Bitcoin mining companies and companies that provide Bitcoin payment services.

In January 2022, Invesco invested $100 million in Bitcoin mining company Marathon Digital Holdings. The company also invested $50 million in Bitcoin payment services company BitPay.

Wisdom Tree

Wisdom Tree Investments is a global asset management company headquartered in New York, United States. The company was founded in 1995 by Bruce Bond and Michael Batnick. Wisdom Tree is one of the world’s largest ETF asset managers, with more than $87 billion in total assets under management as of September 2023.

Wisdom Tree offers a variety of ETFs, including stock ETFs, bond ETFs, currency ETFs, and commodity ETFs. The company also offers other passive investment products, such as mutual funds and closed-end funds. Wisdom Tree has operations in more than 20 countries and territories around the world. The company has more than 250 employees globally.

Wisdom Tree began researching Bitcoin and other cryptocurrencies in 2020. By 2021, Wisdom Tree began allowing its customers to trade Bitcoin through the company’s online brokerage platform. In 2023, Wisdom Tree applied to the SEC to establish a spot Bitcoin ETF.

VanEck

VanEck is a global asset management company headquartered in New York, USA. The company was founded in 1955 by Arthur Van Eck. VanEck is one of the oldest and most reputable asset management companies in the world. VanEck offers a wide range of investment products, including mutual funds, ETFs, closed-end funds and other passive investment products. The company has more than $80 billion in total assets under management as of September 2023.

VanEck has developed a number of innovative mutual funds and ETFs, including:

• VanEck Gold Miners ETF (GLD): ETF tracks gold prices.
• VanEck Vectors Gold Miners ETF (GDX): ETF tracks gold prices and gold mining companies.
• VanEck Emerging Markets ETF (EEM): ETF tracks the MSCI Emerging Markets Index, which includes stocks from emerging markets.
• VanEck Global Real Estate ETF (VNQI): The ETF tracks the FTSE EPRA Nareit Developed Real Estate Index, which includes properties from developed markets.

In 2023, VanEck filed an application with the SEC to establish a spot Bitcoin ETF.

GlobalX

GlobalX was founded in 2014 by Peter C. Thomas. Thomas is an experienced equity and currency fund manager. He believes that passive investment products are an effective way to invest.

GlobalX has developed a number of innovative ETFs and mutual funds, including:

• GlobalX Blockchain ETF (BLOK): The ETF tracks the MVIS Global Digital Assets Index, which includes blockchain and cryptocurrency assets.
• GlobalX DeFi Index ETF (DEFI): ETF tracks the MVIS Global DeFi Index, which includes DeFi assets.
• GlobalX Global X Lithium ETF (LIT): The ETF tracks the Solactive Global Lithium Index, which includes lithium mining and manufacturing companies.
• GlobalX GlobalX Clean Energy ETF (ICLN): The ETF tracks the Solactive Global Clean Energy Index, which includes clean energy companies.

GlobalX is a rapidly growing company. For fiscal 2022, the company reported $100 million in revenue and $20 million in net income. GlobalX’s vision is to become a leading asset management company in the passive investment sector. The company is committed to providing high-quality, low-cost investment products and services to all customers. Currently, GlobalX is managing $40 billion in assets.

ARK Invest

ARK Invest is a global asset management company headquartered in St. Petersburg, Florida, USA. The company was founded in 2014 by Cathie Wood. ARK Invest focuses on investing in companies developing breakthrough technologies, such as artificial intelligence, robotics, self-driving cars, blockchain and clean energy.

ARK Invest was founded in 2014 by Cathie Wood. Wood is an experienced investor and analyst. She believes that companies are developing breakthrough technologies that have the potential to generate superior profits.

ARK Invest is a rapidly growing company. For fiscal 2022, the company reported $1.2 billion in revenue and $200 million in net income.

Valkyrie

Valkyrie Investments is an asset management company headquartered in San Francisco, California, United States. The company was founded in 2017 by Steven McClurg. Valkyrie Investments focuses on investing in digital assets, including cryptocurrencies, digital assets, and others.

Valkyrie Investments was founded in 2017 by Steven McClurg. McClurg is an experienced investor and trader. He believes that digital assets have the potential to change the world.

Bitwise

Bitwise is an asset management company headquartered in San Francisco, California, United States. The company was founded in 2017 by Hunter Horsley and Michael Sonnenshein. Bitwise focuses on investing in digital assets, including cryptocurrencies, digital assets, and others.

Summary

Above are the organizations that are supporting Bitcoin, especially they are all organizations that have submitted Bitcoin ETF Spot applications to the SEC.