BlockFi, Neuberger Berman File for Spot Bitcoin ETF
The BlockFi NB Bitcoin ETF would provide direct exposure to bitcoin, if approved.
A joint venture between crypto lender BlockFi and investment management firm Neuberger Berman filed for a bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission.
- Notably, the BlockFi NB Bitcoin ETF would offer shares reflecting the spot value of bitcoin held by the trust.
- Shares issued by the trust would trade on the New York Stock Exchange and provide direct exposure to the leading cryptocurrency by market capitalization.
- The filing differs from a filing BlockFi made last month to offer a bitcoin futures ETF, which would only invest in futures contracts traded on the CME.
- ProShares was the first ETF shop to launch a bitcoin-linked ETF for U.S. investors.
This story is developing and will be updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.