BlackRock has filed an application for a spot Bitcoin ETF, utilizing Coinbase Custody and spot market data to enhance accessibility for institutional investors.
The fund’s responsible entity partner received unique licensure which will give investors more transparent and direct exposure to bitcoin through a spot ETF.
Hester Peirce, a commissioner with the SEC, published comments on the failings of the SEC to properly deliver ETPs based on bitcoin and other cryptocurrencies.
3iQ’s fund operates as a mutual underlying fund of bitcoin holdings valued by the weighted average price of BTC without taking direct custody of any bitcoin.