People familiar with the matter: BlackRock to submit Bitcoin ETF application, use Coinbase Custody pricing

Asset management giant BlackRock will submit an application for a bitcoin ETF (exchange-traded fund), and BlackRock will use Coinbase (COIN) Custody to price ETFs and spot market data from cryptocurrency exchanges, CoinDesk reported, citing people familiar with the matter. . BlackRock began working with Coinbase in the middle of last year to give institutional investors direct access to cryptocurrencies. It is unclear whether the ETF is spot or futures. BlackRock did not immediately respond to a request for comment.