BlackRock, the world’s largest asset manager, has filed an application with the U.S. Securities and Exchange Commission (SEC) to launch a spot Bitcoin exchange-traded fund (ETF).
This move marks a significant step toward mainstream adoption of Bitcoin as an investment asset, as a spot ETF would allow investors to gain direct exposure to Bitcoin without needing to purchase the cryptocurrency itself.
Previous attempts by other companies to launch a spot Bitcoin ETF have been denied by the SEC due to concerns over market manipulation and investor protection.
However, BlackRock’s entry into the space is seen as a potential game-changer, given its strong regulatory relationships and industry influence.
If approved, this could open the door for more institutional investors to enter the crypto market.
