BlackRock's Leap into Crypto: The iShares Bitcoin Trust Proposal | June 15, 2023

#BlackRock has made strides toward crypto integration by submitting an application to the Securities and Exchange Commission (SEC) for a spot Bitcoin Exchange-Traded Fund (ETF). Proposed under the name iShares Bitcoin Trust, this move signifies a potential shift in conventional investment paradigms.

The proposal outlines #Coinbase as the designated custodian for the ETF's bitcoin assets, underscoring the relevance of reliable digital asset platforms. The goal of these Shares is to simplify the often complex and operationally demanding process of direct bitcoin investment while maintaining intrinsic value that reflects the Trust's bitcoin exposure, fewer expenses, and liabilities. Should this application receive approval, it would mark the introduction of the market's first #ETF dedicated exclusively to Bitcoin. #BTC #COIN #Crypto #MarketUpdate