BlackRock files for US first spot Bitcoin ETF with Coinbase as custodian.
BlackRock has filed with the SEC to launch a spot bitcoin product in the US, using a bitcoin reference rate from CF Benchmarks and with Coinbase as custodian of the trust's bitcoin holdings. The SEC has previously blocked attempts to launch spot bitcoin ETFs in the US, citing concerns around market manipulation, but has permitted ETFs that invest in bitcoin futures contracts. BlackRock CEO Larry Fink has expressed bullishness in crypto's underlying tech, saying that tokenizing securities is "the next generation for markets."