BlackRock Close to Filing for BTC ETF Application
According to a person familiar with the situation, BlackRock, the world’s largest asset management, is close to filing an application for a Bitcoin ETF.
According to the source, BlackRock will use Coinbase Custody for the ETF and the crypto exchange’s spot market data for pricing. Coinbase did not respond to requests for comment.
Midway through last year, BlackRock began working with Coinbase to make cryptocurrency directly available to institutional investors.
It was unclear if the ETF would be spot or futures. Requests for comment were not immediately returned by BlackRock.
To date, the Securities and Exchange Commission (SEC), which regulates ETFs in the United States, has denied every application for a spot bitcoin ETF, while it has permitted the trading of many bitcoin futures ETFs.
(With inputs from Shikha Singh)
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