Asset manager BlackRock said quantum computing could render the cryptography securing Bitcoin and other blockchain networks ineffective.
The asset manager added a detailed overview of quantum computing threats to the risk disclosure in its Bitcoin ETF's regulatory filing.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 . The revised version addressed potential risks to the integrity of the Bitcoin network posed by quantum computing, the filing “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. It is the first time the asset manager has explicitly flagged this risk in its IBIT disclosures. The IBIT ETF is the largest spot Bitcoin (Quantum computing is an emergent field that seeks to use the principles of quantum mechanics to greatly enhance computers’ processing capabilities. James 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. And honestly makes complete sense.”“Lifetime net flows is #1 most imp metric to watch IMO, very hard to grow, pure truth, no bs,” Bloomberg Intelligence analyst Eric Balchunasin a May 9 X post. “Impressive, they were able to make it to a new high water mark so soon after the world was supposed to end.”Bitcoin short-term ‘technical sell-off’ under $100K possible ahead of May 13 CPI print
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin ETFs Lose Over $800M in April as Institutions Stick with Bonds Amid Tariff VolatilityOmkar Godbole is a Co-Managing Editor on CoinDesk's Markets team based in Mumbai, holds a masters degree in Finance and a Chartered Market Technician (CMT) member. Omkar previously worked at FXStreet, writing research on currency markets and as fundamental analyst at currency and commodities desk at Mumbai-based brokerage houses.
Read more »
Should Bitcoin investors worry about flat inflows to the spot BTC ETFs?Spot Bitcoin ETF inflows are flat, but that doesn’t mean institutional investors have turned bearish on BTC.
Read more »
Bitcoin Price Forecast: BTC holds $84,000 despite Fed’s hawkish remarks and spot ETFs outflowsBitcoin (BTC) is stabilizing around $84,000 at the time of writing on Thursday after facing multiple rejections around the 200-day Exponential Moving Average (EMA) at $85,000 since Saturday.
Read more »
Bitcoin ETFs, Corporate Buyers Are Quietly Stabilizing BTC Prices: AnalystCrypto Blog
Read more »
Bitcoin ETFs Diverge: BlackRock Accumulates, Others LiquidateMajor inflows for BlackRock’s Bitcoin ETF in 2025 contrast with the sharp outflows for other Bitcoin ETFs
Read more »
BlackRock Fails to Save Bitcoin ETF From OutflowsBitcoin ETFs bleed, and even BlackRock's $270 million couldn't stop it
Read more »