BlackRock, the world’s largest asset manager, has raised $100,000 in “seed capital” for its Bitcoin spot exchange-traded fund (ETF).
In the notification made by BlackRock to the US Securities and Exchange Commission (SEC), “The investor in the seed capital agreed to purchase $100,000 of shares on October 27 and received delivery of 4,000 shares on October 27 at $25 per share.” It was said.
This capital enables the creation of units to be included in the exchange traded fund and the shares to be traded in the open market.
All 13 applications for spot ETFs, including BlackRock’s, are important to the industry because they Futures contracts linked to Bitcoin not directly Will invest in Bitcoin.
Experts think that the SEC will approve applications for spot exchange-traded funds at the beginning of next year.