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BlockRock's iShares Files Paperwork for Spot Bitcoin ETF
Summary: BlackRock's iShares unit has filed paperwork with the U.S. Securities and Exchange Commission (SEC) to establish a spot bitcoin exchange-traded fund (ETF), according to reports by CNBC. The proposed fund, called the iShares Bitcoin Trust, will primarily hold bitcoin assets through custodian Coinbase. BlackRock's stature as the world's largest asset manager, along with its CEO's ...
BlackRock's iShares unit has filed paperwork with the U.S. Securities and Exchange Commission (SEC) to establish a spot bitcoin exchange-traded fund (ETF), according to reports by CNBC.
The proposed fund, called the iShares Bitcoin Trust, will primarily hold bitcoin assets through custodian Coinbase.
BlackRock's stature as the world's largest asset manager, along with its CEO's political influence, may increase its chances of gaining approval from the SEC.
The ETF will be benchmarked against the CME CF Bitcoin Reference Rate, ensuring transparency and market integrity.
Following the news, the price of bitcoin rose by around 1% to nearly $25,700.
Author: Katie Lin
Tags: Bitcoin,Blackrock,Coinbase,ETF,exchange traded fund,iShares,iShares Bitcoin Trust,SEC,spot,U.S. Securities and Exchange Commission
Link: BlockRock's iShares Files Paperwork for Spot Bitcoin ETF [Copy]
