The claim that BlackRock, the world’s largest asset manager, will make a new attempt in the crypto money sector, fell like a bomb on the agenda. BlackRock, which has more than $8.5 trillion in assets under its management, is preparing to apply for a Bitcoin ETF, according to sources.
Speaking to the crypto press, an anonymous name claimed that BlackRock will work with the Coinbase exchange for the BTC fund. The giant wealth manager partnered with Coinbase last year to provide crypto to institutions. Allegedly, BlackRock will use the spot data of the US-based exchange to determine the Bitcoin ETF price.
SEC’s Attitude on ETFs
The news source emphasized that there is no clear information on whether the ETF application will be spot or forward. The Securities and Exchange Commission SEC has allowed some futures crypto funds, but has so far rejected all spot applications. The claim, which is closely related to the crypto market, caused a small movement in Bitcoin.
Bitcoin (BTC) Price
Following the BlackRock news, the leading cryptocurrency Bitcoin made up for some of its daily loss. BTC, which fell to 24,800 in the middle of the afternoon, rose by 1% from the daily low.
$BTC is currently finding buyers at $25,060.
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