$14 Trillion Earthquake: Fidelity And BlackRock Are Quietly Laying The Groundwork For The Next Bitcoin, Ethereum And Crypto Price Bull Run – Forbes

Bitcoin BTC , ethereum and other major cryptocurrencies are currently trading far below their all-time highs—though one influential investor who saw the Covid pandemic coming thinks that could be about to change.
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The bitcoin price has added around 70% since the beginning of the year as traders brace for a potential Federal Reserve u-turn, helping the ethereum price rally.
Amid the brutal crypto winter that’s erased almost $2 trillion of value from the market, two of the world’s largest financial institutions with a combined $14 trillion in assets under management—Fidelity and BlackRock BLK —are quietly expanding into the world of bitcoin, ethereum and cryptocurrency.
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The bitcoin price has surged so far this year with expectations rising among traders and investors … [+] the bitter crypto winter could be coming to an end and helping push the ethereum price and other cryptocurrencies higher.
“At BlackRock we continue to explore the digital assets ecosystem, especially areas most relevant to our clients such as permissioned blockchains and tokenization of stocks and bonds,” Larry Fink, the chief executive of the world’s largest asset manager wrote in his annual letter to shareholders, adding “very interesting developments are happening in the digital asset space.”
Last year, Fink predicted crypto’s blockchain technology will usher in “the next generation for markets” after signing a major deal with bitcoin and crypto exchange Coinbase.
Meanwhile, Fidelity Investments has now opened up its crypto trading platform to its 37 million users to buy and sell bitcoin and ethereum commission-free, it was first reported by The Block.
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The bitcoin price has soared over the last few years, pulling ethereum and other cryptocurrencies … [+] with it.
The bitcoin and crypto market has traditionally moved cyclically, surging higher before crashing and then soaring higher again.
Some bitcoin, ethereum and crypto market watchers are pointing to bitcoin’s next halving, when the flow of new bitcoin being created will be cut by half, as a potential catalyst for the next bitcoin price bull run.
“We’re about a year away from bitcoin’s next halving,” Alex Thorn, Galaxy’s head of research, said in emailed comments. “Historically, these have been bullish events for the digital asset.”
The next bitcoin halving is scheduled for late April 2024 and will see the bitcoin block reward issued to miners cut to 3.1 bitcoin, down from 6.2 currently.

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