The world’s largest asset manager on Thursday applied for the iShares Bitcoin Trust, according to a filing with the US Securities and Exchange Commission. Coinbase Global Inc., the biggest crypto exchange in the US, would act as custodian. The ETF, should it launch, would trade on Nasdaq. There have been about 30 attempts for a spot-Bitcoin product, according to a tally from Bloomberg Intelligence. But applications have faced opposition by regulators, who have in the past cited market concerns and a lack of investor protections, among other things. The SEC, meanwhile, is suing Coinbase, alleging that it is running an illegal exchange. The company has said that a lack of clear rules for the digital-assets industry is hurting America’s economic competitiveness.
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