BlackRock Secures $100,000 Seed Capital for Bitcoin ETF Proposal, as Investor Purchases 4,000 Shares

Benzinga

BlackRock received $100,000 in seed capital for its proposed bitcoin exchange-traded fund. The seed capital investor purchased 4,000 shares at $25 per share on October 27th, according to BlackRock's latest filing. BlackRock's proposed ETF, called the "iShares Bitcoin Trust", would invest directly in bitcoin rather than bitcoin futures. Many expect the SEC to approve one or more spot bitcoin ETF applications in early 2024, with a 90% probability of approval in January specifically. BlackRock is one of 13 firms currently awaiting regulatory approval for their proposed spot bitcoin ETFs from the SEC.

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00:00 It's Benzinga and here's what's on the block.

00:02 BlackRock received $100,000 in seed capital for its proposed Bitcoin exchange-traded fund.

00:08 The seed capital investor purchased 4,000 shares at $25 per share on October 27, according

00:13 to BlackRock's latest filing.

00:15 BlackRock's proposed ETF, called the iShares Bitcoin Trust, could invest directly into

00:20 Bitcoin rather than Bitcoin futures.

00:22 Many expect the SEC to improve one or more spot Bitcoin ETF applications in early 2024

00:28 with a 90% probability of approval in January specifically.

00:32 BlackRock is one of 13 firms awaiting currently for regulatory approval for their proposed

00:36 spot Bitcoin ETFs from the SEC.

00:39 For all things money, visit Benzinga.com.

00:41 [BLANK_AUDIO]

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