Owns BlackRock, the largest asset management company in the world footApplication for a Bitcoin ETF (exchange-traded fund).
In its quest to create a Bitcoin ETF, BlackRock has chosen Coinbase Custody as its trusted custodian solution. Furthermore, the asset manager will rely on Coinbase’s real-time market data to ensure accurate and reliable pricing of the ETF.
It is worth noting that the Securities and Exchange Commission (SEC), the regulatory authority responsible for overseeing ETFs in the United States, has so far rejected every application for a bitcoin spot ETF. However, the commission has granted approval to several bitcoin futures ETFs, which have been successfully submitted for trading.
BlackRock’s filing to acquire a Bitcoin ETF site marks a turning point in the industry as a prominent player in the traditional financial space recognizes Bitcoin’s potential. If approved, the Bitcoin ETF would open the doors to a new wave of adoption and provide investors with an unprecedented opportunity to participate in the Bitcoin market through a regulated and accessible investment vehicle.