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Finance

BlockFi, Neuberger Berman File for Spot Bitcoin ETF

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

By Kevin Reynolds
AccessTimeIconNov 8, 2021 at 6:49 p.m. UTC
Updated Mar 9, 2024 at 2:00 a.m. UTC
BlockFi (Shutterstock)
BlockFi (Shutterstock)

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.
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    • This story is developing and will be updated.

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Kevin Reynolds
    Kevin Reynolds

    Kevin Reynolds is Editor in Chief at CoinDesk. He owns bitcoin, ether, polygon and solana.

    Follow @KReyofCoinDesk on Twitter