BlackRock and Coinbase team up for Bitcoin ETF filing.

BlackRock has filed an application with the US Securities and Exchange Commission to launch the iShares Bitcoin Trust, a spot bitcoin exchange-traded fund (ETF) that would allow investors to easily access crypto. The SEC has so far resisted allowing the launch of a spot bitcoin ETF in the US, but if approved, BlackRock's ETF could be a boost to a sector that has had a rocky start over the past two years. Coinbase is listed as the bitcoin custodian for the proposed BlackRock ETF, and the filing comes during a time when crypto prices remain well below their all-time highs and the industry faces increasing scrutiny in Washington, D.C.