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		</div><p>BlackRock, the world&#8217;s largest asset manager is close to filing an application for a Bitcoin ETF (exchange traded fund), according to sources close to the matter.</p>
<p>The firm will be using COINBASE (COIN) as the crypto currency custodian for the spot exchange pricing data. Coinbase has refused to answer to any questions.</p>
<p><img src="https://londonglossy.com/wp-content/uploads/2023/06/9921BC28-2AF1-431B-B244-F93B67801CF7.jpeg" alt="BlackRock files Spot Bitcoin ETF" width="1152" height="713" class="alignnone size-full wp-image-179401" /></p>
<p>According to this source, BlackRock initially began working with Coinbase to make cryptocurrencies available to institutional investors mid-2022. In recent news, crypto exchanges Binance and Coinbase were sued by the regulator on alleged violations of securities laws.<br />
<figure id="attachment_179400" aria-describedby="caption-attachment-179400" style="width: 1152px" class="wp-caption alignnone"><img src="https://londonglossy.com/wp-content/uploads/2023/06/90EE9DE6-FB05-4CE2-A783-F8C6C1C83820.jpeg" alt="BlackRock Files For Spot Bitcoin ETF; Bitcoin; Crypto currency" width="1152" height="1164" class="size-full wp-image-179400" /><figcaption id="caption-attachment-179400" class="wp-caption-text">BlackRock Files For Spot Bitcoin ETF</figcaption></figure><br />
As it stands, the Securities Exchange Commission (SEC), which oversees the trading of financial securities in the US, has rejected every application for a Bitcoin ETF but has approved the option of using derivatives contracts to trade crypto currencies through the form of futures.</p>
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