06.18.23

BlackRock Files for Bitcoin ETF in Push Into Crypto

by: Manya Saini; Niket Nishant; Ankur Banerjee; et al.

BlackRock has filed for a bitcoin exchange-traded fund (ETF). 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), which has yet to approve any applications for spot bitcoin ETFs. The move comes after the SEC sued major crypto exchanges Coinbase and Binance earlier in the month. The SEC rejected Grayscale Investment LLC’s application last year to convert its flagship spot Grayscale Bitcoin Trust into an ETF. The SEC has also rejected proposals for spot bitcoin ETFs from firms including Fidelity, Cboe Global Markets and NYDIG.

Read the full article on Reuters