BlackRock takes giant leap toward spot bitcoin ETF with SEC filing
BlackRock took a giant leap toward a spot bitcoin ETF, filing a registration statement with the U.S. Securities and Exchange Commission on Thursday.
Known as the the iShares Bitcoin Trust, the Delaware statutory trust will hold assets primarily consisting of bitcoin held by a custodian designated as Coinbase Custody Trust Company.
The ETF will be benchmarked against the CME CF Bitcoin Reference Rate — New York Variant from FCA-authorized crypto index Administrator CF Benchmarks, a subsidiary of Kraken.
Source: The Block
Valkyrie joins rush with BTC spot ETF application to go with its futures, miners ETFs
Cryptocurrency fund manager Valkyrie is applying for a Bitcoin spot exchange-traded fund (ETF), joining several other financial firms that have filed similar applications with the United States Securities and Exchange Commission (SEC) in the last week.
Valkyrie is an old hand at Bitcoin futures ETFs. It launched the second BTC futures ETF in the U.S., the Valkyrie Bitcoin Strategy ETF (BTF), in October 2021 and launched the Valkyrie Balance Sheet Opportunities (VBB) in December of that year. It liquidated VBB in October 2022. Valkyrie also runs the Valkyrie Bitcoin Miners ETF (WGMI), which tracks securities of companies that derive their revenue or profits from BTC mining.
WisdomTree files new spot Bitcoin ETF application following BlackRock
New York-based asset manager WisdomTree has submitted a new application for a spot Bitcoin exchange-traded fund (ETF) in the U.S., less than a week after BlackRock filed its application for a similar spot Bitcoin ETF.
U.S. Bank National Association will serve as the custodian, according to the filing.
“The bitcoin market has matured such that it is operating at a level of efficiency and scale similar in material respects to established global equity, fixed income and commodity markets,” ~ WisdomTree said in the filing.
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