BlackRock Inc.’s surprise filing for a US spot Bitcoin exchange-traded fund last week has lead to a flurry of similar applications from rival issuers and speculation that the asset manager has key insights that will lead to approval of its application.
Bitcoin has jumped more than 20% since the filing to more than $30,000. On Tuesday, Invesco Ltd. renewed its application for the physically-backed Invesco Galaxy Bitcoin ETF within hours of WisdomTree’s filing with the Securities and Exchange Commission for the WisdomTree Bitcoin Trust. Days earlier, Bitwise submitted plans for a similar vehicle.
The rush of applications comes …
