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  The world’s largest asset manager has been waiting to offer an exchange-traded fund for its iShares Bitcoin Trust in the United States. 
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<div class="cointelegraph"> 
 <p>The United States Securities and Exchange Commission (SEC) has <a rel="noopener noreferrer nofollow" title="delay" href="https://thebittimes.com/tag/delay.html">delay</a>ed an <a rel="noopener noreferrer nofollow" title="application" href="https://thebittimes.com/tag/application.html">application</a> for a Bitcoin (BTC) exchange-traded fund from global asset manager BlackRock.</p> 
 <p>BlackRock, a firm with more than $8.5 trillion in assets under management, had a decision on its iShares Bitcoin Trust <a rel="noopener noreferrer nofollow" title="delay" href="https://thebittimes.com/tag/delay.html">delay</a>ed&nbsp;following an <a rel="noopener noreferrer nofollow" title="application" href="https://thebittimes.com/tag/application.html">application</a> with the SEC. In June, BlackRock lodged an <a rel="noopener noreferrer nofollow" title="application" href="https://thebittimes.com/tag/application.html">application</a>&nbsp;for a BTC-backed ETF with Coinbase listed as the planned custodian of the fund’s Bitcoin holdings and the Bank of New York Mellon in charge of its fiat accounts.</p> 
 <p>BlackRock's filing outlined the value of the shares in removing “obstacles represented by the complexities and operational burdens involved in a direct investment in Bitcoin”. The ETF delay came after cryptocurrency asset manager Grayscale Investments petitioned to have an SEC decision overturned that had originally denied the listing of its over-the-counter Grayscale Bitcoin Trust (GBTC) on Aug. 29.</p> 
 <p><em><strong>Related: Grayscale wins the court battle, but what does this mean for a spot Bitcoin ETF?</strong></em></p> 
 <p>Many in the crypto space suggested the approval of a spot Bitcoin ETF backed by BlackRock — as the world's biggest asset manager — would signal a positive development for adoption. The <a rel="noopener noreferrer nofollow" title="delay" href="https://thebittimes.com/tag/delay.html">delay</a>, which allows the SEC another 45 days following publication in the Federal Register to approve, deny, or <a rel="noopener noreferrer nofollow" title="delay" href="https://thebittimes.com/tag/delay.html">delay</a> the BlackRock <a rel="noopener noreferrer nofollow" title="application" href="https://thebittimes.com/tag/application.html">application</a> again, puts the next deadline at Oct. 17.</p> 
 <p>A swathe of Bitcoin ETFs were delayed by the SEC on Aug. 31. The commission designated a longer period to review applications from&nbsp;WisdomTree, Invesco Galaxy, Valkyrie, Bitwise, VanEck and Fidelity.</p> 
 <p><strong><em>Magazine: SEC calls ETF filings inadequate, Binance loses euro partner and other news: Hodler’s Digest, June 25 – July 1</em></strong></p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/blackrock-s-bitcoin-etf-to-be-the-7th-application-delayed-by-sec-today-tbt61148.html">https://thebittimes.com/blackrock-s-bitcoin-etf-to-be-the-7th-application-delayed-by-sec-today-tbt61148.html</a></p>

BlackRock's Bitcoin ETF to be the 7th application delayed by SEC today

TheBitTimes

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