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BlockFi submits application for physically-backed Bitcoin ETF By BTC Peers

by Mike Robinson

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BlockFi submitted an application for a physically-backed Bitcoin ETF

BlockFi, a cryptocurrency lending company has applied to the United States Securities and Exchange Commission for permission to pilot an ETF that is physically backed.

On Monday, the SEC received Form S-1. Official documents state that the Exchange-Traded Fund was created to show the performance of Bitcoin, not any derivatives or futures standards.

Trust won’t buy or sell bitcoin, but the Trust might direct the Custodian sell bitcoin in order to cover certain expenses.

Crypto Twitter reported the listing of ETFs amid speculations that the SEC could approve its first Bitcoin ETF this week.

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