BlackRock to file for Bitcoin ETF application soon

The world’s biggest asset manager BlackRock is close to filing an application for a Bitcoin ETF (exchange traded fund).

BlackRock will tap Coinbase Custody for the ETF and the crypto exchange’s spot market data for pricing.

BlackRock began working with Coinbase to make crypto directly available to institutional investors midway through last year.

To date, the Securities and Exchange Commission (SEC), which oversees ETFs in the U.S., is yet to approve any application for a spot bitcoin ETF, though it has approved several bitcoin futures ETFs for trading.

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