BlockFi, Neuberger Berman File for Spot Bitcoin ETF

The BlockFi NB Bitcoin ETF would provide direct exposure to bitcoin, if approved.

Nov 8, 2021 at 6:49 p.m. UTC
Updated Nov 8, 2021 at 7:51 p.m. UTC

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.


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