The iShares unit of fund management giant BlackRock (BLK) filed paperwork Thursday afternoon with the U.S. Securities and Exchange Commission for the formation of a spot bitcoin (BTC) ETF.
To be named the iShares Bitcoin Trust, the fund's assets are to "consist primarily of bitcoin held by a custodian on behalf of the Trust," according to the filing. That custodian will by crypto exchange Coinbase (COIN), said the filing.
CoinDesk earlier on Thursday reported on BlackRock's intention to soon file for a bitcoin ETF.
Though approving a number of futures-based bitcoin ETFs, the SEC has notably rejected other fund management company attempts at opening a spot bitcoin ETF, including those from Grayscale, VanEck, and WisdomTree.
Source:
Coin Desk