BlackRock Secures $100,000 Seed Capital for Bitcoin ETF Proposal, as Investor Purchases 4,000 Shares

Benzinga
Benzinga
  • 5 months ago
BlackRock received $100,000 in seed capital for its proposed bitcoin exchange-traded fund. The seed capital investor purchased 4,000 shares at $25 per share on October 27th, according to BlackRock's latest filing. BlackRock's proposed ETF, called the "iShares Bitcoin Trust", would invest directly in bitcoin rather than bitcoin futures. Many expect the SEC to approve one or more spot bitcoin ETF applications in early 2024, with a 90% probability of approval in January specifically. BlackRock is one of 13 firms currently awaiting regulatory approval for their proposed spot bitcoin ETFs from the SEC.

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