Window To Front-Run Institutional Demand For Bitcoin Is Closing: Michael Saylor

Major Firms Join the Race for Bitcoin ETF Approval

Last week, BlackRock, the world’s largest asset manager, filed an application for a Bitcoin ETF with the US Security Exchange Commission (SEC). The firm has partnered with Coinbase, and the ETF would use the exchange’s spot market data for pricing as well as Coinbase Custody for the ETF. The ETF would also use BNY Mellon as the cash custodian.

This week, four other firms, Fidelity, Invesco, Wisdom Tree, and Valkyrie, followed BlackRock’s lead and made their application for similar ETF platforms. According to analysts, this has resulted in an increase in BTC’s price by 19% to $30,240.