The IBIT ETF is the largest spot Bitcoin (BTC) ETF, with approximately $64 billion in net assets, according to its website. Quantum computing is an emergent field that seeks to use the principles of quantum mechanics to greatly enhance computers’ processing capabilities. Source: James Seyffart/Bloomberg Intelligence Related: Quantum computing will bring lost Bitcoin 'back in circulation’ — Tether CEORecord-breaking inflowsJames Seyffart, an analyst for Bloomberg Intelligence, cautioned that risk disclosures such as IBIT’s are required to highlight every possible risk to an asset, even those that are extremely unlikely. “They are going to highlight any potential thing that can go wrong with any product they list or underlying asset that’s being invested in,” Seyffart said in a May 9 X post.“It's completely standard.
The revised version addressed potential risks to the integrity of the Bitcoin network posed by quantum computing, the filing shows.“[I]f quantum computing technology is able to advance […] it could potentially undermine the viability of many of the cryptographic algorithms used across the world’s information technology infrastructure, including the cryptographic algorithms used for digital assets like bitcoin,” BlackRock said.
Emerging technologies, including quantum computing, could potentially render the cryptography securing Bitcoin and other blockchain networks ineffective, asset manager BlackRock said in a regulatory filing. On May 9, BlackRock updated the registration statement for its iShares Bitcoin ETF (IBIT).
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Author / Journalist: Cointelegraph by Alex O’Donnell
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