May 29, 2024
Latest Cryptocurrency News

BlackRock Is Close to Filing Bitcoin ETF Application

Thursday, June 15, Coinbase reported that BlackRock, the largest asset manager in the world, is nearing the submission of an application for a Bitcoin ETF (exchange-traded fund), according to an individual familiar with the matter. The ETF will utilize Coinbase Custody, provided by Coinbase (COIN), and rely on the crypto exchange’s spot market data for pricing. Coinbase has chosen not to provide a comment on this development.

BlackRock initiated its collaboration with Coinbase last year to facilitate direct access to cryptocurrencies for institutional investors. It remains uncertain whether the ETF will be based on spot or futures. BlackRock has not yet responded to inquiries for comment.

Thus far, the US Securities and Exchange Commission (SEC), responsible for overseeing ETFs in the United States, has rejected all applications for spot bitcoin ETFs. However, it has granted approval for multiple bitcoin futures ETFs to be traded.

This announcement coincides with the US securities regulator’s intensified focus on the global cryptocurrency industry, accusing major exchanges Coinbase and Binance of violating securities laws. These high-profile lawsuits have had significant ramifications within the digital assets sector.

Related posts

Decentralized Exchange Brine Fi Gains Traction with $16.5 Million Investment from Leading Capital Firms

Robert Paul

Crypto Custodian Prime Trust Files for Bankruptcy Citing Mismanagement and Market Collapse

Robert Paul

Hackers Withdraw $41 Million from Cryptocurrency Gambling Platform

Robert Paul

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Please enter CoinGecko Free Api Key to get this plugin works.