BlackRock Has Actually Seeded Its Bitcoin Spot ETF, What This Means

2023-12-5 17:00

The world’s largest asset manager, BlackRock, seems to be forging ahead with its plan to launch its Spot Bitcoin ETF, subject to approval by the SEC. A recent development shows that the asset manager already seeded this fund as part of its preparation. 

BlackRock Seeded Its Bitcoin ETF In October

BlackRock recently filed an amendment to its S-1 filing with the Securities and Exchange Commission (SEC). One of the highlights of this latest amendment was the fact that the asset manager seeded the ETF back in October. Bloomberg analyst Eric Balchunas also noted this development in a recent X post while stating how insignificant the seeding fee of $100,000 was.  

BlackRock seeding its ETF might, however, not come as a surprise to some as the asset manager had earlier made known its intention to do this. Bitcoinist reported back in October that the asset manager had revealed its intention to seed its BTC ETF that month. In line with that, the ETF’s seed capital investor purchased $100,000 in shares on October 27.

Balchunas had previously provided an insight into what “seeding” was all about. He explained that this was simply an initial funding that would be used to purchase a few creation units. Basically, the asset manager has created some shares for its Spot BTC ETF, which can be traded as soon as the first day of launch. 

Balchunas also mentioned that seeding doesn’t usually involve a lot of money, which would explain why the seeding amount stands at $100,000. Meanwhile, this doesn’t necessarily mean that BlackRock has started purchasing BTC just yet, especially considering that the SEC is still against the in-kind model. 

All Eyes On January

Bloomberg Analyst James Seyffart recently stated that there is a potential approval window between January 5 and 10. At the moment, there seems to be so much optimism that the SEC would approve these Spot Bitcoin ETFs simultaneously. While reacting to BlackRock’s latest amendment, Seyffart mentioned that this means that the “wheel is turning.”

The SEC has been meeting with several filers to “iron things out,” and Seyffart noted that these amendments are simply the products of the conversations between both sides. It is worth mentioning that BlackRock isn’t the only asset manager that recently filed an amended prospectus, as Bitwise also did.

Balchunas expects other filers to make amendments to their prospectus this week in response to comments from the SEC. Meanwhile, both Seyffart and Balchunas had previously mentioned that approval doesn’t exactly equate to the funds launching instantly. 

There are apparently two paths that need to be cleared before these Spot Bitcoin ETFs can launch. The first is the 19b-4 approval, which is expected to come in January. After that is done, the SEC’s Division of Corporation Finance will then need to sign off on the S-1 filings. 

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Cryptospot Token (SPOT) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 SPOT

asset manager blackrock seeded bitcoin etf spot

asset manager → Результатов: 126


$60B Asset Manager WisdomTree, Launches Bitcoin ETP On Swiss-Based SIX Stock Exchange

WisdomTree, the Nasdaq listed company has introduced a physically-backed BTC ETP that will trade on SIX, a principal stock exchange in Switzerland. The asset manager released a news report on 3rd December where it noted that Swissquote, the online Swiss bank would be serving as the custodial partner for its exchange-traded product (ETP). The report […]

2019-12-3 18:46


Grayscale’s Q3 Report Shows Impressive Growth In New institutional Interest of Crypto Assets

Michael Sonnenshein gave an interview for CNBC on November 20, saying Grayscale’s recent Form 10 filing with US regulators would be great for the crypto industry if approved. At the beginning of this week, the asset manager Grayscale filed a Form 10 registration statement for the Grayscale Bitcoin Trust (GBTC), which is its Bitcoin (BTC) […]

2019-11-22 00:11


New #DropGold Ad Campaign by Grayscale “It’s Time To Go Bitcoin” Gets Novogratz Comments

There is a fierce legitimacy battle happening right now between gold and Bitcoin. One of the main reasons for that is the current macro-economical situation of the world, which is uncertain. This has prompted Grayscale Investment, an investment crypto company considered to be the largest crypto asset manager in the world, to give its opinion […]

2019-10-24 00:48


European consortium launches Bitcoin secured digital gold network (DGLD)

European consortium launches Bitcoin secured digital gold network (DGLD) - CryptoNinjas A consortium comprising CoinShares, a European-based bitcoin and crypto asset manager, Blockchain.com, a provider of cryptocurrency products including one of the most popular crypto wallets, and MKS (Switzerland) SA, a precious metals and gold dealer, today announced that after two years in development, it has launched the DGLD network with more than $20M in gold […] European consortium launches Bitcoin secured digital gold network (DGLD) - CryptoNinjas

2019-10-15 15:28


Фото:

Grayscale Wins First US Approval For Cryptocurrency-Based Security

A pivotal US self-regulatory organization has formally licensed the country’s first public security based on cryptocurrency markets. Large Cap Fund Gets FINRA Say-So Shares of Grayscale’s Digital Large Cap Fund (DLC) received the green light from the Financial Industry Regulatory Authority (FINRA) this week, a press release confirmed on October 14.

2019-10-15 22:47


Bitcoin Volatility Is At Four Months Low, What’s Next for the Price of Bitcoin?

The volatility of Bitcoin has always been one of the biggest criticisms of it, however, the past few months it has been relatively quiet. The chief investment officer at U.S. asset manager Blockforce Capital, David Martin says: “So far in September, bitcoin's price has continued the consolidation and range-bound nature that was kicked off early […]

2019-9-12 19:21


$3.2T Asset Manager Charles Schwab, Not Venturing Into Crypto Yet; Calling Them “Pure Speculation”

The largest investment broker in the US which controls over $3.2 trillion worth of assets has stated that it will not venture into cryptocurrencies in the near future, Cointelegraph reports. According to the firm, there are no plans to provide its clients with direct crypto trading services at the moment. Rob Farmer, the company’s managing […]

2019-9-9 18:54


Asset Manager Boldly Claims Every Institutional Investor Will Buy Bitcoin

By CCN Markets: The bitcoin price has been going sideways for nearly two months now, but crypto bulls believe that rising institutional interest could lead to a breakout. Bitcoin perma-bull Anthony Pompliano is the latest to join this bandwagon, telling CNBC in an interview that the cryptocurrency will find its way into “every institutional investor’s […] The post Asset Manager Boldly Claims Every Institutional Investor Will Buy Bitcoin appeared first on CCN Markets

2019-8-21 23:00


Фото:

Cryptocurrency Custody Giants Battle For Lions Share of Institutional Market

The acquisition of Xapo by Coinbase has effectively created the largest digital asset custodian in the world, with nearly $8 billion in assets managed. But this has only intensified the competition as custodial stalwart BitGo has announced they will be offering Xapo customers one year of free service with a dedicated account manager and upRead MoreRead More.

2019-8-21 23:00


Активы Grayscale стоимостью $2,7 млрд будут храниться в Coinbase Custody

Компания Grayscale Investments задействует институциональный сервис Coinbase Custody для хранения активов, находящихся под ее управлением. We’re thrilled to welcome @GrayscaleInvest, the world’s largest digital currency asset manager, as the most recent firm to trust us with their clients’ assets https://t.

2019-8-3 18:50


Фото:

Fortnite and Gaming Industry is ‘Massive’ For Crypto

Cryptocurrency will gain significantly from playing a role in online gaming, one of the industry’s best-known investors has forecast after Fortnite World Cup concludes. Fortnite and Gaming Are ‘Very Bullish’ Commenting after the culmination of the Fortnite World Cup event in New York, Travis Kling, founder and CIO of cryptocurrency asset manager Ikigai, said it was only a matter of time before the “huge” cash flows in gaming made their way into crypto.

2019-7-29 16:00


Стоимость активов под управлением Grayscale Investments достигла исторического максимума

Стоимость активов под управлением компании Grayscale Investments впервые достигла отметки $2,7 млрд, говорится в отчете за второй квартал. As the largest digital currency asset manager, our quarterly reports have emerged as an industry benchmark for investment sentiment.

2019-7-17 15:52