It is not yet clear, however, whether the proposed BlackRock Bitcoin ETF is spot or futures-based.

According to a reliable source, BlackRock (NYSE: BLK), the largest asset manager in the world, is on the verge of submitting an application for a Bitcoin ETF (exchange-traded fund), CoinDesk reported.

The ETF will utilize Coinbase Custody for storage purposes and rely on the spot market data from the cryptocurrency exchange for pricing. However, Coinbase has chosen not to comment on the matter.

It should be noted that it remains uncertain whether the ETF will focus on spot or futures trading. BlackRock has not yet responded to requests for clarification.

Furthermore, the Securities and Exchange Commission (SEC), responsible for regulating ETFs in the United States, has so far rejected all spot bitcoin ETF applications but has approved various bitcoin futures ETFs for trading.

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