[TheDefiant]
Eric Balchunas, the Senior ETF Analyst for Bloomberg, pointed out on X an intriguing change in BlackRock's spot Bitcoin ETF amendment: The world's largest asset manager is planning to seed the fund this month.
The information was discovered by Scott Johnsson, an investor at Van Buren Capital, who also noted that BlackRock has obtained a CUSIP number for the ETF. A CUSIP number serves as a unique identifier for securities, which is essential at the time of issuance and trade settlement.
Balchunas noted that seeding an ETF happens when initial funding is provided typically by a bank or broker dealer used to purchase a few creation units in exchange for ETF shares which can be traded in open market on day one.
While Balchunas said he doesn't "want to read that much into it," he also said, "it happens when ETFs are preparing to launch."
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