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    Home»Crypto»BlackRock Marks a Turning Point for Bitcoin Filing for ETF
    BlackRock Bitcoin ETF
    Crypto

    BlackRock Marks a Turning Point for Bitcoin Filing for ETF

    June 15, 2023No Comments2 Mins Read
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    In a major move towards making Bitcoin more accessible to the masses, BlackRock – the largest asset manager in the world – has filed an application for a spot Bitcoin ETF. This exciting development is set to be supported by the top-of-the-line Coinbase Custody, which has been selected as the definitive custodial solution by the company.

    The proposed ETF will benchmark against indices provided by CF Benchmarks, which will be derived from data gathered from six of the top Bitcoin exchanges including Coinbase, Kraken, and Bitstamp.

    The Securities and Exchange Commission (SEC) holds the keys to ETF regulation for bitcoin in the US, and they’ve turned down every application for a spot bitcoin ETF so far. But don’t despair! A few bitcoin futures ETFs have gotten the thumbs-up and are doing well in the market.

    BlackRock filling for a Bitcoin ETF spot is marking a significant turning point for the industry. This move acknowledges the enormous potential of Bitcoin and could usher in a new era of adoption. Should the Bitcoin ETF get the green light, investors would gain access to a regulated and accessible investment vehicle, providing an unprecedented opportunity to participate in the booming Bitcoin market.

    About BlackRock

    BlackRock is a global leader in investment management and financial services. Founded in 1988, the company has grown to become one of the world’s largest asset managers, with over $9 trillion in assets under management. BlackRock offers a wide range of services for institutional and retail clients, including investment management, risk management, and advisory services. The company is headquartered in New York City and has offices around the world.

    About ETFs

    An Exchange-Traded Fund (ETF) is a diversified investment vehicle that tracks a specific index, sector, or group of assets. These funds are traded on stock exchanges, much like individual stocks. By pooling together various assets such as stocks, bonds, or commodities, ETFs provide investors with the opportunity to diversify their portfolios, minimize risk, and gain exposure to a wide range of markets. Additionally, ETFs typically offer lower expense ratios compared to traditional mutual funds, making them an attractive option for cost-conscious investors seeking broad market coverage.

    Author Profile

    Lucy Walker
    Lucy Walker
    Lucy Walker covers finance, health and beauty since 2014. She has been writing for various online publications.
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