Bitcoin ETF Race Heats Up as BlackRock Joins and SEC Chair Remains Silent

Swiss digital asset manager Pando Asset AG has filed an application with the SEC to offer a spot Bitcoin ETF in the U.S., with Bank of New York Mellon as the administrator and Coinbase Custody as the fund's custodian. The Pando Asset Spot Bitcoin Trust aims to provide investors with shares backed by Bitcoin, allowing them to gain exposure to BTC without directly buying or holding digital coins. Pando joins other high-profile Bitcoin ETF hopefuls, including BlackRock, VanEck, Valkyrie, and WisdomTree.