Crypto Optimistic BlackRock Edges Closer to Bitcoin ETF Despite Increased SEC Scrutiny Of The Industry

Despite Bitcoin (CRYPTO: BTC) languishing below the $25K mark and the U.S. Securities and Exchange Commission (SEC) intensifying its crackdown on the crypto industry, BlackRock Inc (NYSE: BLK), the world’s largest asset manager, is reportedly nearing an application for a Bitcoin ETF (exchange-traded fund) according to Coindesk. This development comes amidst the company’s increasing exposure to Bitcoin through its 8.10% stake in MicroStrategy Inc. (NASDAQ: MSTR) earlier this year.