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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.
STORY CONTINUES BELOW
Kevin Reynolds
Kevin Reynolds was the editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
