- The corporation will apply to create a bitcoin ETF
- The company will work with Coinbase
- The exchange did not comment
- BlackRock also did not respond to a request for comment
American multinational investment corporation BlackRock will soon apply to launch a bitcoin spot exchange-traded fund (ETF). It is known that the ETF will use Coinbase (COIN) Custody, as well as data from the cryptocurrency for pricing.
The exchange itself has not confirmed information about the partnership. However, back in mid-2023, the world’s largest exchange-traded fund issuer, BlackRock, began partnering with Coinbase to provide institutional investors access to cryptocurrencies.
It is still unclear whether the ETF will be spot or futures. At this point, the Securities and Exchange Commission (SEC), which has regulatory authority over ETFs in the U.S., has rejected all applications to create spot bitcoin ETFs. At the same time, several bitcoin futures ETFs have been approved for trading.