The iShares unit of fund management giant BlackRock (BLK) filed paperwork Thursday afternoon with the U.S. Securities and Exchange Commission for the formation of a spot bitcoin (BTC) ETF.
To be named the iShares Bitcoin Trust, the fund’s assets are to “consist primarily of bitcoin held by a custodian on behalf of the Trust,” according to the filing.
CoinDesk earlier on Thursday reported on BlackRock’s intention to soon file for a bitcoin ETF.
Though approving a number of futures-based bitcoin ETFs, the SEC has notably rejected other fund management company attempts at opening a spot bitcoin ETF, including those from Grayscale, VanEck, and WisdomTree.
