Claim: BlackRock to Apply for Bitcoin ETF Fund

BlackRock, the world’s largest asset manager, is preparing to apply for a Bitcoin ETF. Sources told Coindesk that BlackRock is about to apply for a Bitcoin ETF and will use Coinbase Custody for BlackRock’s Bitcoin ETF and Coinbase’s spot market data for pricing.

While it remains unclear whether the Bitcoin ETF that Blackrock will apply for will be spot or futures, neither BlackRock nor Coinbase has made a statement. As we prepare to apply for the BlackRock Bitcoin ETF, it should be noted that although the SEC has approved several BTC futures ETFs to date, it has not accepted any spot bitcoin ETF applications.

As you may recall, BlackRock started working with Coinbase in mid-2022 to provide direct crypto services to institutional investors. Blackrock manages nearly $10 trillion in assets and is among the largest asset management companies in the world. Following the BlackRock news, the leading cryptocurrency Bitcoin made up for some of its daily loss. BTC, which fell to 24,800 in the middle of the afternoon, rose by 1% from the daily low.