On October 31st, according to CoinDesk, Darius Sit, co-founder and chief investment officer of Singapore-based crypto trading firm QCP Capital, believes that the impact of BlackRock (BlackRock), the world's largest asset manager, entering the crypto space is more important than the US presidential election. Although the support of Republican candidate Trump may bring short-term market volatility, Sit pointed out that BlackRock's bitcoin ETF has brought cryptocurrencies into the mainstream investment space. Sit said that when BlackRock CEO Larry Fink publicly stated on CNBC that bitcoin is a "store of value", it marked the improvement of the status of cryptocurrencies in the US investment market. In addition, Sit also pointed out that the growth potential of the global market remains to be seen, despite Trump's promise to create more crypto-friendly policies in his campaign. QCP has recently expanded its operations in Abu Dhabi, where regulators consider digital assets as part of capital markets, providing a stable market environment.