BlackRock files for bitcoin ETF in push into crypto

BlackRock, the world’s biggest asset manager, on Thursday filed for a bitcoin exchange-traded fund (ETF) that would allow investors to get exposure to the cryptocurrency, as the asset class comes under intense regulatory scrutiny.

BlackRock’s iShares Bitcoin Trust will use Coinbase Custody as its custodian, according to a filing with the U.S. Securities and Exchange Commission (SEC). The U.S. regulator has yet to approve any applications for spot bitcoin ETFs.

Last year, BlackRock launched a spot bitcoin private trust for institutional clients in the United States.