BlackRock Has Actually Seeded Its Bitcoin Spot ETF, What This Means
Summary
BlackRock, the world's largest asset manager, is moving forward with its plan to launch its Spot Bitcoin ETF pending approval from the SEC. The company has already seeded the ETF with $100,000 in shares back in October. This move was anticipated as BlackRock had previously announced its intention to seed the BTC ETF. Seeding involves an initial funding to purchase creation units for the ETF. The SEC is expected to make a decision on the approval of the Spot Bitcoin ETFs between January 5 and 10. Other asset managers, like Bitwise, have also filed amended prospectuses, and more are expected to follow suit this week. However, approval does not necessarily mean an immediate launch, as there are still additional steps to be completed.
