Asset manager BlackRock is preparing to launch a Bitcoin ETF.
As reported by CoinDesk, in order to implement the initiative, the firm is using the Coinbase Custody service and spot market data from the crypto exchange for pricing.
BlackRock started partnering with the platform in August last year. Later, the management firm began offering clients access to digital asset trading through its portfolio management system as part of an integration with the institutional service Coinbase Prime.
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To date, the US Securities and Exchange Commission (SEC) has rejected nearly all applications for crypto ETF registration.
In June last year, asset manager VanEck filed an application to launch a spot Bitcoin ETF, however, the application was rejected by the SEC.
Grayscale Investments filed in October 2021 to convert a BTC-based trust into a spot Bitcoin ETF. On December 17, the SEC delayed its decision on the application and in February 2022 again put off the date on this issue.
On June 30, Grayscale sued the regulator following a negative response.