The post BlackRock’s Bitcoin ETF Gets Seed Funding and SEC Approval Soon! appeared first on Coinpedia Fintech News
BlackRock has disclosed that it received $100,000 in “seed capital” for its proposed bitcoin exchange-traded fund (ETF). The investment was made by an unnamed investor who agreed to purchase 4,000 shares at a price of $25 each on October 27, 2023. This funding will be used to create the underlying units for the ETF, allowing shares to be traded on the open market. BlackRock’s proposed “iShares Bitcoin Trust” is one of 13 applications currently awaiting approval from the US Securities and Exchange Commission (SEC). Analysts predict that the SEC will approve at least one spot Bitcoin ETF in January, with a probability of 90%.
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