BlackRock files for bitcoin ETF in push into crypto
$Blackrock(BLK.US$ , the world's biggest asset manager, on Thursday filed for a $Bitcoin(BTC.CC$ exchange-traded fund (ETF) that would allow investors to get exposure to the cryptocurrency, as the asset class comes under intense regulatory scrutiny.
BlackRock's iShares Bitcoin Trust will use Coinbase Custody as its custodian, according to a filing with the U.S. Securities and Exchange Commission (SEC). The U.S. regulator has yet to approve any applications for spot bitcoin ETFs.
BlackRock's iShares Bitcoin Trust will use Coinbase Custody as its custodian, according to a filing with the U.S. Securities and Exchange Commission (SEC). The U.S. regulator has yet to approve any applications for spot bitcoin ETFs.
The SEC rejected Grayscale Investment LLC’s application last year to convert its flagship spot $Grayscale Bitcoin Trust(GBTC.US$ into an ETF.
The SEC has also rejected proposals for spot bitcoin ETFs from firms including Fidelity, Cboe Global Markets and NYDIG.
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