BlackRock Close to Filing for Bitcoin ETF Application: Source
BlackRock will be using Coinbase (COIN) Custody for the ETF and the crypto exchange’s spot market data for pricing, the source said.
, the world's biggest asset manager, is close to filing an application for a (exchange traded fund), according to a person familiar with the matter.
BlackRock will be using (COIN) Custody for the ETF and the crypto exchange’s spot market data for pricing, the person said. Coinbase declined to comment.
BlackRock began working with Coinbase to make crypto directly available to institutional investors midway through last year.
It wasn't clear if the ETF will be spot or futures. BlackRock did not immediately respond to requests for comment.
To date, the Securities and Exchange Commission (), which oversees ETFs in the U.S., has for a spot bitcoin ETF, though it has approved several for trading.
UPDATE (June 15, 13:09 UTC): Updates to say Coinbase decline to comment.
Edited by Aoyon Ashraf and Nikhilesh De.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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