BlackRock (NYSE:BLK), the worlds largest investment company, has filed an application for a Bitcoin spot exchange traded fund (ETF). It would be the first crypto spot ETF in the United States, if it receives approval. According to the filing, Coinbase (NASDAQ:COIN) Custody Trust Company would be the custodian of the fund and Bank of New York Mellon (NYSE:BK) would custody its fiat. The SEC has not approved a spot Bitcoin ETF so far despite numerous applicants. The worlds first spot traded Bitcoin ETF was Canadas Purpose Bitcoin ETF, set up in early 2021.
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