BlackRock CEO Larry Fink has acknowledged a shift in his perspective on Bitcoin, following extensive discussions with clients and policymakers. This change comes as the U.S. Securities and Exchange Commission (SEC) halted applications for 3–5x leveraged crypto ETFs, citing exposure limits under the Investment Company Act of 1940. The SEC's decision impacts proposals from firms like Volatility Shares, Direxion, ProShares, and Tidal, maintaining a 2x leverage cap. In related developments, U.S. spot Bitcoin ETFs experienced a net outflow of $14.90 million on December 3, breaking a five-day streak of inflows. Despite this, BlackRock's IBIT ETF saw a significant inflow of $42.24 million, while Ether ETFs recorded $140 million in net inflows, indicating continued investor interest in cryptocurrency products.