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Asset manager BlackRock filed an amended prospectus for its spot Bitcoin ETF application with the US SEC. 

BlackRock has submitted an amended prospectus for its spot Bitcoin Exchange Traded Fund (ETF) with the Securities and Exchange Commission.

BlackRock Submits Amendments, Citing Fierce Competition

BlackRock becomes the third applicant to file amendments to its spot Bitcoin ETF applications this week, after Ark Invest and Fidelity.

In its amendments, the asset manager acknowledged serious competition in the race for a Bitcoin spot ETF approval and provided further details on the product’s pricing and reporting mechanisms. 

BlackRock initially filed its “iShares Bitcoin Trust” ETF application in June. According to its filing, the Nasdaq stock exchange with the SEC, the custodian of the fund’s bitcoin will be Coinbase Custody Trust Company, while the Bank of New York Mellon would custody the Trust’s cash holdings. 

Notable Amendments

Blackrock is currently in the race with seven other applicants to receive the first spot Bitcoin ETF approval, and its competition includes Grayscale, the largest Bitcoin trust fund. Grayscale recently made waves with a courtroom win against the SEC after the agency rejected its application to convert its Grayscale Bitcoin Trust to a spot Bitcoin ETF. The securities agency said that it would not challe

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Author: Jana Serfontein

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