A Straightforward Explanation for Why Financial Giants Want to Issue a Spot Bitcoin ETF

A Straightforward Explanation for Why Financial Giants Want to Issue a Spot Bitcoin ETF

Last week, BlackRock (BLK) applied for a spot bitcoin exchange-trade fund (ETF). This week, another comically large asset manager in Invesco (IVZ) reapplied for approval to offer a spot bitcoin ETF. The less-comically large ETF-sponsor WisdomTree also refiled for a spot bitcoin product yesterday (WisdomTree’s filing was initially rejected by the SEC in 2022).