In a potential gamer for crypto markets, asset management giant BlackRock is moving to launch an exchange-traded fund for Bitcoin
In an application filed on Thursday, the company sought permission to sell the currency through a vehicle called the iShares Bitcoin Trust.
CONTRACT:
In a potential gamer for crypto markets, asset management giant BlackRock is moving to launch an exchange-traded fund for Bitcoin.
The move is significant because of BlackRock’s enormous reach, and because it would allow retail investors to buy Bitcoin as shares of an ETF from an ordinary brokerage account. Likewise, it would make it easier for institutional investors, including pension funds, to hold the asset.
The price of Bitcoin, which has been slumping in the face of regulatory pressures and hawkish monetary policy from the Federal Reserve, jumped around 3% on news of the BlackRock application.
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Name/Symbol
$BETF
Total Supply
100,000,000
Buy/Sell Tax:
0%