BlackRock, the world’s largest asset manager, has filed an updated document with the US Securities and Exchange Commission (SEC), indicating that it could potentially launch a spot Bitcoin exchange-traded fund (ETF) in the near future. In the filing, BlackRock states that it may start investing in Bitcoin futures contracts, which would allow the company to gain exposure to the cryptocurrency market indirectly. The document also mentions that the ETF may be seeded this month, meaning that it could begin trading in the coming weeks.
If BlackRock were to launch a spot Bitcoin ETF, it would be a significant development for the cryptocurrency industry. Currently, there are no Bitcoin ETFs approved by the SEC, despite several companies attempting to get one off the ground in recent years. A spot Bitcoin ETF would differ from existing Bitcoin futures-based ETFs by providing investors with direct exposure to actual Bitcoin, rather than tracking the price of Bitcoin through futures contracts. This could potentially attract significant institutional and retail investors, as it would eliminate some of the concerns and complexities associated with investing in Bitcoin directly.
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