“So I heard BlackRock launched a bitcoin ETF,” your uncle might say at the Thanksgiving table. 

How will you respond? 

Well, first you can clarify that he (let’s call him Jim) means an ETF, or exchange-traded fund. And while the asset management giant indeed wants to bring such a product to market, it does not yet have approval. 

“Oh, I see,” Uncle Jim says as he collects another forkful of mashed potatoes. “I can’t say I know much about it beyond all the headlines.”

He’s right — the story has been the subject of numerous stories in recent months. Yet, misconceptions persist. 

BlackRock is not the only one pursuing a bitcoin ETF. About a dozen companies —…

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