'BlackRock Close To Filing Bitcoin ETF; BlackRock Will Be Using Coinbase Custody For The ETF And The Crypto Exchange's Spot Market Data For Pricing, The Source Said.' - CoinDesk
Portfolio Pulse from Benzinga Newsdesk
BlackRock, the world's largest asset manager, is reportedly close to filing an application for a Bitcoin ETF, using Coinbase Custody for the ETF and the crypto exchange's spot market data for pricing. The SEC has previously rejected all spot bitcoin ETF applications but approved several bitcoin futures ETFs.
June 15, 2023 | 1:11 pm
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BlackRock is close to filing a Bitcoin ETF application, potentially expanding its product offerings and attracting more investors.
As the world's largest asset manager, BlackRock entering the Bitcoin ETF space could attract more investors and expand its product offerings. However, the SEC has not yet approved any spot bitcoin ETFs, which may affect the outcome.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Coinbase will provide custody and spot market data for BlackRock's potential Bitcoin ETF, potentially increasing its revenue and strengthening its partnership with the asset manager.
Coinbase's involvement in BlackRock's potential Bitcoin ETF could lead to increased revenue and a stronger partnership between the two companies. However, the SEC's approval of the ETF remains uncertain.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80