Fund companies are making a renewed push into crypto, led by one of the biggest names in the industry: BlackRock.

Overseeing $9.4tn, BlackRock is the world’s largest asset manager. It’s now throwing its weight behind bitcoin. The company in June filed an application for an iShares exchange-traded fund that would own bitcoin directly. That isn’t novel. But it may have found a way around some key regulatory objections. If BlackRock succeeds, it could open the floodgates to crypto ownership — part of a broader push by the fund industry to capitalise on digital assets.