Bitcoin (BTC-USD) on Friday was on track to end the week about 0.5% lower, with the world’s largest cryptocurrency by market capitalization paring back a chunk of its weekly losses on optimism over BlackRock’s (BLK) filing for a bitcoin ETF.
The world’s largest asset manager on Thursday filed paperwork with the U.S. Securities and Exchange Commission (SEC) to establish a spot bitcoin ETF, to be known as the iShares Bitcoin Trust. The filing named Coinbase (COIN) as the custodian for the ETF’s holdings. If approved, it would be the first publicly traded spot bitcoin ETF in the country.
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