BlackRock to File Application for Bitcoin ETF

BlackRock, currently the largest asset manager globally, is on the verge of filing an application for a Bitcoin ETF (exchange traded fund). For this ETF, BlackRock is expected to leverage Coinbase Custody and the cryptocurrency exchange’s spot market data for pricing. The use of Coinbase services was initiated when BlackRock began working with them last year to offer direct access to cryptocurrencies to institutional clients. Coinbase has declined to comment on the matter.