BlackRock files for spot bitcoin ETF

[{"selector":"#anim-3d4805b0-f9b7-40a6-9947-74fea0c03014","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c7df91b0-4946-4633-8cf0-5a34227a92a8","keyframes":{"transform":["translate3d(0px, -99.82793%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] BlackRock, the world's biggest asset manager, has applied to the Securities and Exchange Commission (SEC) for the creation of a spot bitcoin exchange-traded fund (ETF).

If authorized, the ETF will enable investors to directly watch the price of bitcoin rather than via futures contracts.

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[{"selector":"#anim-a9255c89-2e94-476b-81d8-cb58b902d42c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9a37e871-c713-47c0-81ae-213f47ebe176","keyframes":{"transform":["translate3d(0px, -99.82793%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] The SEC has yet to rule on the proposal, but it is the first time BlackRock has applied for a spot bitcoin ETF.

The SEC has recognized the application, which implies it has been examined and is being evaluated.

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However, as the cryptocurrency industry has grown, there has been an increase in interest for spot bitcoin ETFs in recent months.

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