BlackRock seeks SEC approval for bitcoin ETF.
TL;DR Summary
BlackRock has filed for a bitcoin exchange-traded fund (ETF) with the Securities and Exchange Commission (SEC) despite the regulator rejecting all previous applications for spot bitcoin ETFs. The iShares Bitcoin Trust will use Coinbase Custody as its custodian. The move comes as digital assets face increased regulatory scrutiny, with the SEC recently suing major exchanges Coinbase and Binance. The price of bitcoin dipped to $25,000 after the Federal Reserve announced additional interest rate hikes.
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