BlackRock's Bitcoin ETF, the 7th application delayed by the SEC on August 31

The world's largest asset manager was waiting to offer an exchange-traded fund for its iShares Bitcoin Trust in the United States. Latest news Join us on social networks

The U.S. Securities and Exchange Commission (SEC) has delayed a Bitcoin (BTC) exchange-traded fund application from global asset manager BlackRock.

BlackRock, a company with over $8.5 trillion in assets under management, has had its decision on its iShares Bitcoin Trust delayed following an SEC filing. In June, BlackRock filed for a BTC-backed ETF, with Coinbase listed as the intended custodian of the fund's Bitcoin holdings and Bank of New York Mellon in charge of its fiduciary accounts.

BlackRock's filing highlights the value of stocks in removing the "hurdles represented by the complexities and operational burdens involved in investing directly in Bitcoin." The ETF's delay came after cryptocurrency asset manager Grayscale Investments sought the reversal of an SEC ruling that initially denied its Grayscale Bitcoin Trust (GBTC) OTC listing. open on August 29.

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