BlackRock, the world’s largest asset manager, has filed an application with the U.S. Securities and Exchange Commission (SEC) for the approval of a Bitcoin spot exchange-traded fund (ETF).
If approved, this would be the first Bitcoin spot ETF in the United States, allowing investors to gain direct exposure to Bitcoin through a regulated financial product.
Unlike futures-based ETFs, a spot ETF would track the actual price of Bitcoin, offering a more accurate and transparent investment vehicle.
The move by BlackRock is seen as a significant step toward mainstream adoption of Bitcoin, as it could pave the way for other major financial institutions to follow suit.
The market response has been positive, with Bitcoin’s price experiencing a surge following the announcement. However, the SEC’s decision remains uncertain, as the regulator has previously rejected similar applications due to concerns over market manipulation and investor protection.
