According to the news of Coindesk, the world's largest asset manager BlackRock is preparing to apply for a Bitcoin ETF.
Sources told Coindesk that BlackRock is about to apply for a Bitcoin ETF and will use Coinbase Custody for BlackRock's Bitcoin ETF and Coinbase's spot market data for pricing.
While it remains unclear whether the Bitcoin ETF that Blackrock will apply for will be spot or futures, neither BlackRock nor Coinbase has made a statement.
In preparing to apply for the BlackRock Bitcoin ETF, it should be noted that although the SEC has approved several BTC futures ETFs to date, it has not accepted any spot bitcoin ETF applications.
As it will be remembered, BlackRock started working with Coinbase to provide direct crypto money services to institutional investors in the middle of the last 2022.
Blackrock manages nearly $10 trillion in assets and is among the largest asset management companies in the world.
*Not investment advice.