BlackRock intends to acquire additional Bitcoin exchange-traded funds (ETFs).
Investment giant BlackRock has recently submitted a fresh application to the U.S. Securities and Exchange Commission (SEC) in order to acquire additional Bitcoin (BTC) ETFs.
In an updated filing on the regulator’s website, BlackRock expressed its desire to purchase more Bitcoin ETFs for its Strategic Income Opportunities Fund.
Currently, BlackRock’s fund, known as IBIT, is recognized as the top-performing fund in the market. It contributes to approximately half of the total trading volume for spot BTC-ETFs. As of March 5, the trading volume for BlackRock IBIT reached an impressive $2.4 billion, with assets under management (AUM) surpassing $11 billion.
As for the fate of an Ethereum (ETH) ETF, it remains uncertain. On March 4, the SEC once again delayed its decision on the application for an Ethereum-ETF, which was initially submitted by BlackRock in November 2023. The commission stated that further analysis of the proposed rule change is necessary to determine its compliance with the Securities Act, which establishes national exchange regulations for securities.
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