BlackRock submits an application to launch Bitcoin ETF
July 6, 2023

BlackRock Plans First Spot Bitcoin ETF

Illustration speaking to Bitcoin and money and potential ETF.

In a landmark development for the cryptocurrency industry, BlackRock, the world's leading asset manager, has formally filed with the U.S. Securities and Exchange Commission (SEC) to launch its first spot Bitcoin exchange-traded fund (ETF). A spot ETF is a fund that directly buys and holds its underlying assets—in this case, Bitcoin—and allows investors to trade shares of the fund on traditional exchanges. The creation of such an ETF by a financial powerhouse like BlackRock demonstrates an increased acceptance of Bitcoin within traditional finance and signals promising growth potential for secure, regulated cryptocurrency platforms such as Nash.

BlackRock's application for a Bitcoin ETF demonstrates a notable shift in the company's approach towards cryptocurrency, transitioning from a relatively conservative position on direct Bitcoin investment to embracing its potential. This change not only underscores the acceptance of digital assets by major financial institutions but also sets a precedent for other corporations to explore cryptocurrency.

illustration of safe and keyThe proposed Bitcoin ETF seeks to provide investors with direct exposure to Bitcoin, rather than relying on its derivatives. This move could greatly expand the accessibility of cryptocurrencies for a larger investor base, potentially increasing cryptocurrency trading activity. For platforms like Nash, which offer a secure and regulated environment for cryptocurrency trading, this could lead to an influx of users interested in tapping into the Bitcoin market.

Industry players have responded positively to BlackRock's filing. Mike Novogratz, the founder of Galaxy Digital, views this as a promising indication of the future of digital assets. If approved, BlackRock's Bitcoin ETF could act as a catalyst for other traditional finance institutions to more openly engage in the cryptocurrency sphere, benefiting platforms such as Nash that are bridging the gap between traditional and decentralized finance.

The filing by BlackRock marks a significant milestone in Bitcoin's evolution, emphasizing the rising importance of cryptocurrencies and the need for secure, transparent platforms like Nash for facilitating transactions involving digital assets.

For more in-depth information on BlackRock's application and its potential influence on the cryptocurrency landscape, please refer to the original article here.

Read more posts by this author.
All Posts

Compliance and Registration

Nash was the first Crypto Platform in Europe registered by the Financial Market Authority (FMA) of Liechtenstein. Nash is also registered with the De Nederlandsche Bank N.V. (DNB).
Icon illustration representing a book with transparent background.

Industry Leading Security

Nash’s Crypto Platform and Investment App uses state-of-the art, audited security measures and is fully non-custodial.
What makes Nash so safe
Icon illustration of a shield representing security on a transparent background.
Trustpilot logo icon
YouTube logo iconTwitter logo iconTelegram logo iconLinkedIn logo iconInstagram logo iconFacebook logo icon
Rates may vary over time. Crypto-powered earnings on Nash are not covered by any deposit guarantee schemes like bank savings accounts and involve risks unique to the underlying technologies: (i) Exploitations of the smart contracts used; (ii) Forex fluctations between your national currency and the US dollar, which underlies crypto earnings assets; (iii) USD stablecoins losing their peg. 
Nash is a trademark of Neon Exchange Aktiengesellschaft. Neon Exchange Aktiengesellschaft is an exchange bureau registered with the FMA of Liechtenstein (TT Exchange Service Provider Nr. 261096 as defined by the Token- und VT-Dienstleister-Gesetz / TVTG, 3 October 2019)
Nash Exchange B.V. is registered with De Nederlandsche Bank N.V. (DNB) as a provider of crypto services. DNB conducts supervision and monitors Nash Exchange B.V.’s compliance with the Money Laundering and Terrorist Financing Prevention Act and the Sanctions Act 1977. Nash Exchange B.V. is not under the prudential supervision of DNB nor under business conduct supervision of the AFM. This means there is no supervision of financial requirements or business risks and no specific consumer financial protections.
Neon Exchange Aktiengesellschaft is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act – for more information please see this link.
Neon Exchange Aktiengesellschaft also provides fiat-crypto exchange services. These are separate and unrelated to the account and payment services you receive from Modulr Finance B.V.