BlackRock Reveals Initial Capital for Spot Bitcoin ETF: Here Are the Details!

  • The investment giant disclosed this in a new filing with the U.S. Securities and Exchange Commission (SEC).
  • Initial capital represents the starting financing that allows an ETF to finance creation units, enabling shares to be offered and traded on the open market.
  • ETF analysts noted in their recent posts that BlackRock and some other firms are continuing discussions with the SEC.

BlackRock, the world’s largest asset manager, has revealed the initial capital of $100,000 for its proposed spot Bitcoin ETF.

BlackRock Announces Initial Capital for ETF

BlackRock

BlackRock, the world’s largest asset manager, disclosed the $100,000 “initial capital” it received for the proposed Bitcoin (BTC) exchange-traded fund (ETF). The investment giant revealed this in a new filing with the U.S. Securities and Exchange Commission (SEC).

BlackRock stated, “The capital contributor agreed to purchase $100,000 worth of shares on October 27, 2023, and received delivery of 4,000 shares on October 27, 2023, at a price of $25.00 per share (‘initial shares’).”

The initial capital represents the starting financing that allows an ETF to finance creation units, enabling shares to be offered and traded on the open market. BlackRock’s proposed “iShares Bitcoin Trust” will invest in bitcoin rather than futures contracts tied to the leading cryptocurrency and is among the 13 applications awaiting regulatory approval.

Approval likelihood set at 90%

With a broad expectation that one or more spot ETFs will likely be approved in early next year, Bloomberg analysts have stated a 90% probability of approval in January. Meanwhile, ETF analysts noted in their recent posts that BlackRock and some other firms are continuing discussions with the SEC. BlackRock updated its ETF filing on December 4, Monday.

BREAKING NEWS

Bitcoin Dives to $107k as On-Chain Data Show Mixed Outlook: Resistance at $113k and Bearish Targets Emerge

Bitcoin price analysis shows a renewed pullback as the...

Bitcoin Diminishing Returns? Altcoins Emerge as Top Return Field in 2025 Amid Perpetual Contracts and Leverage Risks

COINOTAG News reported on November 3 that crypto influencer...

Ethereum Whale Deposits 3,000 ETH into Binance, Still Holds 2,002 ETH with About $14.8M Profit

According to Onchain Lens monitoring, a sizable Ethereum transfer...

Uniswap Tops October DEX Volume as Global DEX Trades Reach $613.3B; Binance Leads CEX with $810.4B

COINOTAG News, citing DefiLlama data, shows October's total DEX...

CZ Denies Proposing Private Crypto Bank in Kyrgyzstan (Bereket Bank); Says He Won’t Run a Bank

In a recent statement, CZ denied reports that he...

Warren’s Lawyer Challenges Defamation Claims Over Binance Founder’s Guilty Plea Post

Senator Elizabeth Warren's legal team has dismissed defamation claims...

CZ’s Personal Aster Investment Sparks Price Surge and Market Speculation

CZ, former Binance CEO, disclosed purchasing $2.5 million in...

Analyst Foresees XRP ETFs Launching Within Two Weeks After SEC Case Resolution

The first XRP ETFs are expected to launch within...

Dogecoin May Revive Historic November Rally Pattern Amid Altcoin Signals

The historic November rally pattern for Dogecoin indicates potential...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img