Coinspeaker
BlackRock Sets Stage for Bitcoin ETF with Seed Funding
BlackRock Inc (NYSE: BLK), one of the world’s largest asset managers, recently made headlines by announcing its plans to provide initial “seed” funding for its spot Bitcoin Exchange Traded Fund (ETF).
This strategic move was revealed in its recent securities filings, specifically through the SEC Form S-1, which is the initial registration form required for new securities by public companies based in the United States.
BlackRock’s Ambitious Move
Seeding an ETF, in this context, refers to providing the initial funding required for its launch. Typically, a bank or broker-dealer purchases the creation units (in this case, Bitcoin) in exchange for ETF shares. These shares can then be traded on the open market on the ETF’s launch day.
One of the intriguing aspects of this development is that BlackRock intends to self-fund its Bitcoin spot ETF. Scott Johnsson, an investor at Van Buren Capital, discovered this self-
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