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BlackRock Considers Bitcoin ETF with Coinbase Custody, Signaling Move into Cryptocurrencies

June 16 (Cointime) - BlackRock, the world's largest asset manager, is reportedly considering applying for a Bitcoin Exchange Traded Fund (ETF), which would signify a significant move into the world of cryptocurrencies. BlackRock plans to use Coinbase Custody for the ETF, alongside the crypto exchange's spot market data for pricing.

This alliance represents a significant step in legitimizing cryptocurrencies in traditional finance. The news of BlackRock's potential Bitcoin ETF could significantly affect BTC's price, as creating such an ETF would allow a broader spectrum of investors to gain exposure to Bitcoin, possibly driving up demand and its price.

Bitcoin Bitcoin $92,658.32
-1.69%
BlackRock
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