- The corporation will apply for the creation of a bitcoin ETF
- The company will partner with Coinbase to launch
- The exchange did not comment on the situation.
- BlackRock also did not respond to a request for comment.
American multinational investment corporation BlackRock will file an application to launch a spot exchange-traded fund (ETF) of bitcoins. It is known that Coinbase (COIN) Custody will be used for ETFs, as well as crypto exchange data for pricing.
The exchange itself did not confirm the information about the partnership. However, back in mid-2023, BlackRock, the world’s largest exchange-traded fund issuer, partnered with Coinbase to provide access to cryptocurrencies for institutional investors.
It is not yet clear whether the ETF will be spot or futures. For now, the Securities and Exchange Commission (SEC), which has regulatory authority over ETFs in the US, has rejected all applications to create spot bitcoin ETFs. At the same time, several bitcoin futures ETFs have been approved for trading.