BlackRock will apply for a bitcoin exchange-traded fund (ETF) in the near future, according to reporting from CoinDesk.
The largest asset manager in the world plans to use Coinbase Custody (the exchange’s offline storage solution) for the ETF and its spot market data for pricing, the report noted, citing a source familiar with the matter.
The timing is interesting as Coinbase and Binance, two of the world’s largest cryptocurrency exchanges, have been sued by the US Securities and Exchange Commission.
Last week, the two exchanges saw a combined US$4 billion in withdrawals between Monday and Thursday.
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