© Igor Faun

BlackRock’s latest filing for a spot (BTC) trust will drive investors’ confidence in Bitcoin and may even be “the best thing that could happen” to BTC, according to some crypto industry observers — but others warn of a hidden cost.

During an interview on June 16, Galaxy Digital CEO Mike Novogratz said the approval of BlackRock’s ETF application would be “the best thing that could happen to $BTC.”

The downside