Global investment giant BlackRock has filed an application with the U.S. Securities and Exchange Commission (SEC) for a Bitcoin Spot ETF, sparking optimism in the crypto market.
Unlike Bitcoin Futures ETFs, which are based on contracts tracking Bitcoin’s future price, a Spot ETF would directly hold Bitcoin, offering more accurate exposure to the cryptocurrency.
This development is seen as a potential game-changer for institutional adoption of Bitcoin, as it would provide investors with a regulated and more accessible way to invest in the asset.
While the SEC has been cautious about approving Spot ETFs due to concerns over market manipulation and liquidity, BlackRock’s filing has revived hopes that the approval of such a product could pave the way for greater legitimacy and inflows into the crypto market.
