BlackRock has secured funding for its Bitcoin exchange-traded fund (ETF) from a seed investor. basis Yesterday to delivery.
The world's largest fund manager received $100,000 in capital from an investor who bought shares in the iShares Bitcoin Trust on Oct. 27, according to the filing.
A seed capital investor initially floats an ETF to get it off the ground and trade on a stock exchange.
BlackRock is the largest and most prominent Wall Street firm to file with the US Securities and Exchange Commission to issue its own Bitcoin ETF. The controller currently has several applications under review.
An ETF is a fund that allows investors to buy shares that track the value of an underlying asset such as gold, foreign currency or crypto. A Bitcoin ETF holds Bitcoin and gives investors exposure to the digital asset.
Although one has not yet started trading in the US: the SEC has always rejected applications for such investment vehicles, often citing market manipulation as the reason.
But BlackRock sent shock waves in the crypto world when it was there applied Back in June; Analysts said the move was a game changer because traditional investors were clamoring for exposure to crypto and BlackRock rarely blocked ETF applications. The price of Bitcoin He shot Following the announcement.
Billionaire BlackRock CEO Larry Fink then Thank you He called Bitcoin a “global asset” that would “digitalize gold” in television interviews.
ETF analysts are now speculating that the SEC will soon approve a Bitcoin ETF for trading in January.
Edited by Guillermo Jimenez
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