BlockFi, Neuberger Berman File for Spot Bitcoin ETF
The BlockFi NB Bitcoin ETF would provide direct exposure to bitcoin, if approved.
Updated Mar 9, 2024 at 2:00 a.m. UTC
![BlockFi (Shutterstock)](https://www.coindesk.com/resizer/SX7z5omslBIZvahUMWLrdOENuTQ=/567x320/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/DF6P5X2YHRH73NGUMZ6OM7W4BQ.jpg)
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.