BlackRock may begin preparing seed capital for a Bitcoin spot ETF this month

ChainCatcher news, U.S. financial lawyer Scott Johnsson stated on social media that BlackRock has obtained the CUSIP number prepared for the launch of a Bitcoin spot ETF. CUSIP stands for Committee on Uniform Securities Identification Procedures, and this number is also used as the uniform identification code for U.S. securities. Additionally, Johnsson mentioned that BlackRock may prepare seed capital for the Bitcoin spot ETF this month.

Seed capital refers to the funds provided by banks and brokerages to purchase the underlying assets (in this case, Bitcoin) in exchange for ETF shares that can be traded on the open market on the first day of listing. Seed capital is usually a small amount, just enough to get the ETF operational.