BlackRock BTC ETF Plan Encourages Banks to Invest in Bitcoin

BlackRock, the world’s largest asset management firm, has officially filed a revised Spot Bitcoin Exchange-Traded Fund (ETF) application with the United States Securities and Exchange Commission (SEC), which offers “superior resistance to market manipulation.” Interestingly, this BlackRock BTC ETF revision will allow Wall Street banks to have easier access to the firm’s funds.

As per a Forbes report, the new model was first presented to the SEC in November. It aims to allow banks like JPMorgan Chase and Goldman Sachs to participate more easily in the Bitcoin market despite the strict regulations that hold them back from holding BTC on their balance sheets.

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