BlockFi Files for Physically Backed Bitcoin ETF: What You Need to Know
Cryptocurrency lending firm BlockFi has filed paperwork with the United States Securities and Exchange Commission, or SEC, to launch a physically-backed Bitcoin ETF. This marks another significant development in the ongoing pursuit of making Bitcoin more accessible to mainstream investors.
In the Securities and Exchange Commission filing on Nov. 8, BlockFi joined a long and growing list of companies seeking to offer a Bitcoin ETF. However, this ETF is intended to be backed by hard cryptocurrency. Unlike some other proposed ETFs that rely on Bitcoin futures contracts, BlockFi's proposal aims for direct exposure to the cryptocurrency itself. A firma de empréstimos de criptomoedas BlockFi entrou com um pedido na Comissão de Valores Mobiliários dos Estados Unidos, ou SEC, para lançar um fundo.
Why a Physically Backed Bitcoin ETF Matters
The appeal of a physically backed Bitcoin ETF lies in its potential to provide investors with a more direct and transparent way to invest in Bitcoin. La empresa de préstamos de criptomonedas BlockFi presentó la documentación ante la Comisión de Bolsa y Valores de Estados Unidos, o SEC, para lanzar. This type of ETF holds actual Bitcoin, theoretically tracking its price more closely than futures-based alternatives. Cryptocurrency lending firm BlockFi has filed paperwork with the United States Securities and Exchange Commission, or SEC, to launch a physically-backed Bitcoin ($84,246.00 ) exchange.
SEC Approval Remains Uncertain
Despite the increasing number of filings, SEC approval for a spot Bitcoin ETF remains uncertain. The SEC has historically expressed concerns about market manipulation and investor protection within the cryptocurrency space. The Securities and Exchange Commission is scheduled to rule on another spot Bitcoin ETF application from VanEck by Nov. 14.
BlockFi's Position in the Cryptocurrency Market
Centralized cryptocurrency exchange and lending platform BlockFi is next in line to file for a Bitcoin ETF with the SEC. As a prominent player in the cryptocurrency lending space, BlockFi's entry into the ETF arena signifies its commitment to expanding its product offerings and catering to a wider range of investors.
Cryptocurrency lending firm BlockFi has.
Stay tuned for further updates as the SEC reviews BlockFi's application and the broader landscape of Bitcoin ETFs evolves. Cryptocurrency lending firm BlockFi has filed paperwork with the United States Securities and Exchange Commission, or SEC, to launch a physically-backed Bitcoin DeFi lender BlockFi has filed for permission to launch a physically backed Bitcoin ETF.