BlackRock files for spot BTC ETF, SEC approval expected in 2023. Massive disruption ahead with $10T asset giant's entry?

ETF could unlock floodgates of institutional investment. JPMorgan estimates up to $500B could flow into Bitcoin. 

BlackRock stamp could further validate Bitcoin as legitimate asset class like gold or equities. 

Passive investors gain easy Bitcoin access through brokerage accounts for first time. 

But critics warn of excessive Wall St control if inflows concentrate BTC supply 

Impact on volatility unclear - could increase stability or worsen panic crashes? 

Not all positive - alternatives like DeFi indexes and institutional services exist. 

Reality likely between the extremes of hopium and FUD. Healthy regulation key. 

Optimistic scenario sees new mega-rally to all-time-highs. But risks remain ever-present. 

Optimistic scenario sees new mega-rally to all-time-highs. But risks remain ever-present.