BlockFi Applies To Launch Direct Bitcoin ETF

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The American custodian service BlockFi has filed an application with the US Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) with direct investments in bitcoin.

In October, the American regulator changed its attitude towards cryptocurrency ETFs and approved several such funds. True, we are talking about ETFs for bitcoin futures, but the SEC has no plans to approve ETFs with direct investments in digital assets. At the same time, more than two dozen applications for such funds are currently under consideration by the regulator.

“BlockFi has applied for a Bitcoin Direct Investment ETF that is subject to regulation under the Securities Act of 1933. This is the second application – a month ago, the company applied for an ETF for Bitcoin futures. Apparently, as long as Gensler does not change the attitude towards such funds, applications will be “frozen”, ”- considers
Bloomberg Senior ETF Strategist Eric Balchunas.

It is worth noting that the review of an application for an ETF with direct investments in bitcoin from VanEck is scheduled for November 14. However, the likelihood of approving the launch of such a fund is rather low – most likely. the term of consideration will be postponed again.

Earlier it was reported that BlockFi issued more than 50 thousand credit cards, users of which receive cashback for purchases in bitcoins.

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