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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
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Crypto lending firm BlockFi has formed a business with New York-based investment management company Neuberger Berman for the development and distribution of crypto products including exchange-traded funds.In an Oct. 25 announcement, BlockFi said the joint venture, BlockFi Nb, expects to “launch crypto asset management products, including ETFs and other traditional
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“We think this combination will help us to improve on products currently in the market so that we can give investors cost-effective and convenient access to the performance of digital assets from their brokerage accounts,” Greg Collett, president of the new entity, said. Original Source
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“If approved, the actively managed fund would invest primarily in Bitcoin futures contracts registered with the Commodity Futures Trading Commission, and would not have direct exposure to Bitcoin. We look forward to sharing more details with the market when appropriate,” the statement added. Original Source
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Earlier this year, crypto lending platform BlockFi started facing the heat from state regulators in New Jersey, Texas, and Alabama. Other states have joined the fold since then, as well. Celsius this week is now facing similar cease and desist demands from all three of the same states that BlockFi
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Former Commodity Futures Trading Commission chair Christopher Giancarlo, also known as “Crypto Dad,” will be leaving crypto lending firm BlockFi’s board of directors, but continuing to advise the group on digital assets.In a Wednesday announcement, BlockFi said Ellen-Blair Chube, a managing director and client service officer at investment banking firm
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BlockFi’s eventful 2021 has continued in the second half of the year as state regulators in the United States began to crack down on the company’s crypto interest-bearing accounts. The move likely marks another operational headache for the non-bank lender in a year of substantial fundraises and public listing plans
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