BlackRock secures $100,000 seed funding for Bitcoin spot ETF

ChainCatcher news, BlackRock disclosed in a new application submitted to the SEC that the company has secured $100,000 in "seed capital" for its proposed Bitcoin exchange-traded fund. The document states that seed capital investors agreed to purchase $100,000 worth of shares on October 27, 2023, and delivered 4,000 shares ("seed shares") at a price of $25 per share on October 27, 2023.

It is reported that the seed capital represents the initial funding that allows the ETF to provide capital for the creation of ETF units, so that the shares can be issued and traded on the public market.