Share this article
BTC
$88,853.71
+
2.05%ETH
$1,635.67
+
0.73%USDT
$0.9999
+
0.01%XRP
$2.1023
-
0.63%BNB
$606.34
+
0.84%SOL
$141.18
+
2.00%USDC
$0.9998
+
0.01%DOGE
$0.1643
+
2.02%TRX
$0.2441
+
0.89%ADA
$0.6399
-
0.19%LINK
$13.48
+
0.57%AVAX
$20.45
-
0.20%LEO
$8.8462
-
2.19%XLM
$0.2501
-
2.51%SUI
$2.3625
+
5.20%SHIB
$0.0₄1278
+
1.45%TON
$2.9292
-
2.57%HBAR
$0.1734
+
2.09%BCH
$347.06
+
2.50%HYPE
$18.64
+
4.69%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
BlackRock Received $100K Seed Funding for Spot Bitcoin ETF
The unknown seed investor agreed to purchase $100,000 shares on October 27, 2023, BlackRock’s latest filing reveals.
BlackRock (BLK) revealed that it received $100,000 as “seed capital” for its proposed bitcoin [BTC] exchange-traded fund, the investment giant disclosed in a fresh application with the U.S. Securities and Exchange Commission (SEC).
“The seed capital investor agreed to purchase $100,000 in shares on October 27, 2023, and on October 27, 2023 took delivery of 4,000 shares at a per-share price of $25.00 (the “seed shares”),” the filing said.
Ipagpatuloy Ang Kwento Sa Baba
Don't miss another story.Subscribe to the Crypto Long & Short Newsletter today. Tingnan ang Lahat ng mga Newsletter
Seed capital represents the initial funding that allows an ETF to fund the creation units underlying the ETF so that shares can be offered and traded in the open market.
BlackRock’s proposed “iShares Bitcoin Trust” will invest in bitcoin rather than futures tied to the leading cryptocurrency and is one among the 13 applications awaiting regulatory approval.
The SEC is widely expected to greenlight one or more spot ETFs early next year, with Bloomberg analysts putting the probability of an approval in January at 90%.
CoinDesk reached out to BlackRock to confirm the identity of the seed capital investor and was awaiting response at press time.
Omkar Godbole
Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team based in Mumbai, holds a masters degree in Finance and a Chartered Market Technician (CMT) member. Omkar previously worked at FXStreet, writing research on currency markets and as fundamental analyst at currency and commodities desk at Mumbai-based brokerage houses. Omkar holds small amounts of bitcoin, ether, BitTorrent, tron and dot.
