11 Asset Management Firms Enter the Bitcoin ETF Race: Spot Bitcoin ETFs Approved!

The market has been anticipating it for months, and this week, the SEC finally approved 11 new spot Bitcoin (BTC-USD) ETF applications for trading in the United States! This marks a monumental shift in the accessibility of Bitcoin for mainstream investors.

Which Asset Management Firms Have Applied for a Spot Bitcoin ETF?

So far, 11 firms have filed for spot Bitcoin ETFs. These applicants hail from legacy finance and crypto native backgrounds and range from TradFi giants with trillions of dollars under management to more specialized digital asset managers. These approvals represent a significant validation of Bitcoin as an asset class.

U.S. Companies That Have Filed for Spot Bitcoin ETF

The approved ETFs represent a diverse range of investment strategies and fee structures. The introduction of these spot Bitcoin ETFs is expected to drive significant institutional investment into the Bitcoin market, potentially leading to increased price stability and further adoption.

A major catalyst for this wave of applications was the filing by BlackRock. BlackRock: The world’s largest asset manager, managing over $9 trillion, filed a spot BTC ETF application in June 2023 (not 2025 as initially indicated in some reports). Shortly after BlackRock’s ETF application, which mentioned Coinbase Custody as its crypto custodian, several other firms followed suit.

The proposal designates Coinbase as the crypto custodian for several of these ETFs, highlighting the growing role of established cryptocurrency exchanges in the institutional investment landscape.

Stay tuned for further updates as these ETFs begin trading and the market responds to this groundbreaking development in the world of cryptocurrency investment.