BlockFi, Neuberger Berman file for spot Bitcoin ETF

The BlockFi NB Bitcoin ETF would provide direct exposure to bitcoin, if approved.

A joint venture between crypto lender BlockFi and investment management firm Neuberger Berman filed for a bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission.

Notably, the BlockFi NB Bitcoin ETF would offer shares reflecting the spot value of bitcoin held by the trust.

Shares issued by the trust would trade on the New York Stock Exchange and provide direct exposure to the leading cryptocurrency by market capitalization.

The filing differs from a filing BlockFi made last month to offer a bitcoin futures ETF, which would only invest in futures contracts traded on the CME.

ProShares was the first ETF shop to launch a bitcoin-linked ETF for U.S. investors.

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