BlackRock Enhances Quantum Computing Risk Disclosures in Updated Bitcoin ETF Filing
Asset management company BlackRock has further increased its disclosures regarding risks related to quantum computing in its updated Bitcoin ETF filing, including the possibility that rapid technological advancements could undermine the core security of Bitcoin.
While the previous version of the prospectus already mentioned risks stemming from “breakthroughs in mathematics, algebraic geometry, and quantum computing,” the updated document expands on this section, explaining how these technologies could jeopardize Bitcoin’s cryptographic algorithms.
Bloomberg ETF analysts James Seyffart and Eric Balchunas have noted this change, pointing out that the new language is part of a broader revision of risk disclosures. Seyffart wrote on the social platform X:
The risk disclosure section of the document covers a variety of risks, from quantum threats, regulatory crackdowns, potential forks, volatility, to hardware concentration in China, and even mentions the impact of Trump’s Bitcoin reserve plan and the energy intensity of Bitcoin mining.
Currently, several major global tech companies, including Alibaba, Amazon, Google, and IBM, are investing in quantum computing research. In February of this year, Microsoft revealed a significant breakthrough in quantum accessibility through a topological quantum chip named “Majorana 1.”
The issue of quantum technology posing a threat to the Bitcoin network often sparks discussions within the crypto community, yet experts like Pierre-Luc Dallaire-Demers, a resident scientist at the University of Calgary, still believe that it will take at least five to seven years before quantum technology truly threatens the Bitcoin system. Paolo Ardoino, CEO of stablecoin issuer Tether, has also expressed similar views this year. Source
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