iShares Bitcoin Trust

BlackRock, the global titan of asset management, has recently submitted an application to launch a Bitcoin spot exchange-traded fund (ETF). This bold step has ignited a flurry of responses within both the cryptocurrency market and mainstream financial circles. While some are heralding this as a positive omen for the broader crypto ecosystem, others have veered towards conspiracy theories. The application lodged with the US Securities and Exchange Commission (SEC) is centered on launching an ETF designed to track the price of Bitcoin. BlackRock’s core operations involve the creation, management, and…

BlackRock’s recent move to file for a spot Bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC) has stirred significant interest in the financial world. This proposed fund, dubbed the iShares Bitcoin Trust, is set to operate like a trust, much like how the SPDR Gold Shares ETF functions. Its unique structure would allow for daily creations and redemptions, mimicking an ETF’s operations. Notably, there has been a level of disquiet in the market regarding the use of the term “trust” for publicly-traded Bitcoin instruments. Grayscale’s Bitcoin…