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<p><strong>The world&#8217;s largest asset manager is preparing to apply for a Bitcoin ETF (exchange-traded fund).</strong></p>
<h2 id="strong-blackrock-may-apply-for-bitcoin-etf-strong"><strong>BlackRock May Apply for Bitcoin ETF</strong></h2>
<p></p>
<p>According to foreign sources, BlackRock, the world&#8217;s largest asset manager, is reportedly close to applying for a Bitcoin ETF (exchange-traded fund).</p>
<p>BlackRock will use Coinbase (COIN) Custody for the ETF and will use the cryptocurrency exchange&#8217;s spot market data for pricing. BlackRock has been working with Coinbase since mid-last year to provide institutional investors with direct access to cryptocurrency.</p>
<p>It is unclear whether the ETF will be a spot or futures contract. BlackRock has not yet made a statement on this matter.</p>
<p>So far, the U.S. Securities and Exchange Commission (SEC), which regulates ETFs in the U.S., has rejected any spot Bitcoin ETF applications but has approved several bitcoin futures ETFs.</p>
<h2 id="strong-bitcoin-price-attempts-to-recover-strong"><strong>Bitcoin Price Attempts to Recover</strong></h2>
<p>After consecutive blows, the Bitcoin price managed to rise above $25,000 again with the news of BlackRock&#8217;s ETF application.</p>
<p>It remains to be seen how the SEC, which has filed lawsuits against Coinbase and Binance exchanges, will respond to the Bitcoin ETF. The regulator&#8217;s moves have shaken the cryptocurrency market. Despite a slight recovery, the crypto market experienced a sharper decline below $25,000 on Wednesday following the Federal Reserve&#8217;s interest rate decision.</p>

<p>The post <a rel="nofollow" href="https://en.coinotag.com/bitcoin-move-from-the-worlds-largest-asset-manager/">Bitcoin Move from the World&#8217;s Largest Asset Manager!</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG</a>.</p>

Bitcoin Move from the World’s Largest Asset Manager!

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