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International Business Times
International Business Times
Business
Nica Osorio

BlackRock Plans To Let Go Of 600 Employees Ahead Of Imminent Bitcoin ETF Approval

Bitcoin BlackRock ETF SEC Bonds VanEck

KEY POINTS

  • Blackrock expects the SEC to approve its Bitcoin ETF application this Wednesday
  • It did a similar round of layoffs in 2022 based on the performance metrics of employees
  • Bitcoin was trading in the red zone at $44,003.28 in the early hours of Monday

Mega asset management firm BlackRock, which is hoping to be one of the issuers of the much-awaited spot Bitcoin exchange-traded funds (ETF) in the U.S., is planning to lay off 600 people, equivalent to about 3% of its global workforce, in the coming weeks.

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