BlackRock, the world’s largest asset manager, recently amended its proposal to launch a Bitcoin exchange-traded fund (ETF). The amendment would allow investors to purchase the ETF in either Bitcoin or fiat currency. This move is seen as a major step forward for the cryptocurrency industry, as it could open the door to more institutional investors entering the market.

The original proposal was filed with the U.S. Securities and Exchange Commission (SEC) in January 2021. It proposed a Bitcoin ETF that would be listed on the NYSE Arca exchange. The ETF would track the performance of the MVIS CryptoCompare Bitcoin Benchmark Rate, a price index that tracks the performance of the top five cryptocurrencies.

The amended proposal now allows investors to purchase the ETF in either Bitcoin or fiat currency. This is a major development for the cryptocurrency industry, as it could make it easier for institutional investors to enter the market. It could also provide more liquidity to the market, as it would allow investors to buy and sell the ETF without having to convert their fiat currency into Bitcoin.

The SEC has yet to approve the ETF, and it is unclear when or if it will be approved. However, BlackRock’s move is seen as a positive sign for the industry. If approved, it could open the door to more institutional investors entering the market and provide more liquidity to the market.

BlackRock’s move is seen as a major step forward for the cryptocurrency industry. It could open the door to more institutional investors entering the market and provide more liquidity to the market. It remains to be seen if the SEC will approve the ETF, but if it does, it could be a major boost for the industry.