(Change of supplier)
June 15 (Reuters) –
BlackRock on Thursday allowed investors to apply for a Bitcoin Exchange Traded Fund (ETF) to gain crypto exposure by betting on an asset class that has come under pressure from regulatory action in recent months. .
Asset management giant iShares Bitcoin Trust plans to use Coinbase Custody as its custodian, according to filings with the U.S. Securities and Exchange Commission.
The move comes as the global cryptocurrency industry comes under scrutiny from U.S. securities regulators for alleged violations of securities laws.
Earlier this month, regulators sued major exchanges Coinbase and Binance in a high-profile lawsuit that has resonated with the digital asset industry.
The SEC has previously rejected multiple Spot Bitcoin ETF applications.
BlackRock’s ETF plans were reported by CoinDesk earlier in the day. (Reporting by Manya Saini and Niket Nishant in Bangalore; Editing by Devika Shamnath and Pooja Desai)