BlackRock raises $100,000 in seed funding with Bitcoin ETF application

Just a sign of approval

It has been revealed that US asset management giant BlackRock has received $100,000 in seed funding to provide liquidity regarding its application to list its physical virtual currency Bitcoin ETF.

In a filing on the 4th, BlackRock reported to the SEC that it received $100,000 in funding on October 27th from its pending iSHARES® BITCOIN TRUST. ETF seed funding refers to the funding needed to initially issue ETF shares.

The SEC has not yet approved any Bitcoin ETF listing application, but there is speculation that this could be a sign of approval, as seed funding means preparation for ETF issuance.

Indeed, since October 27, BlackRock has met multiple times with SEC executives and amended and resubmitted its application. BlackRock’s next review deadline (third stage) is January 15th next year, and it has been pointed out that the SEC is also likely to be moving positively toward approval of the ETF.

connection: BlackRock and others submit revised version of Bitcoin ETF application, expectations rise for simultaneous SEC approval

connection: BlackRock and Invesco meet again with the SEC regarding Bitcoin ETF listing application

connection:Learn about Bitcoin ETFs from the beginning: Explaining the advantages and disadvantages of investing and how to buy US stocks

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