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Home»BITCOIN NEWS»BlackRock advances to $3 million seed round
BITCOIN NEWS

BlackRock advances to $3 million seed round

By Crypto FlexsDecember 24, 20233 Mins Read
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BlackRock advances to  million seed round
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As the Spot Bitcoin ETF approval date approaches, asset management firms like BlackRock are preparing to launch a Spot Bitcoin ETF. BlackRock has already launched a seed fund initiative to support the launch of a Spot Bitcoin ETF.

BlackRock prepares seed fund for Bitcoin ETF

In recent years X In a (previously Twitter) post, Bloomberg analyst James Seyffart announced: black stone Officially, plans were made to invest $10 million in seed funding. Spot Bitcoin ​​ETF. The seed fund aims to drive the development and launch of a spot Bitcoin ETF.

update: @black stone I have already submitted an updated/amended S-1. #Bitcoin ETF. pic.twitter.com/sVAL9qVmiy

— James Seyff (@JSeyff) December 22, 2023

Seyffart also disclosed that the asset management company filed an updated and amended S-1 to his S-1. Apply for ETF U.S. Securities and Exchange Commission (secretary). In addition to Blackrock Hashdex Pando Asset also submitted respective documents.

BlackRock’s $10 million seed fund signals the company’s strong commitment to leading the Spot Bitcoin ETF landscape. The asset manager first submitted a Spot Bitcoin ETF application to the SEC in June. However, the application was delayed by the SEC.

Bitcoin slides back into the $43,696 territory. Chart: TradingView.com

Regulators have also postponed applications for several other Bitcoin ETFs, including Grayscale, WisdomTree, and others. The final date for potential approval of Bitcoin ETF applications is scheduled for January 10, 2024.

Approximately 13 spot Bitcoin ETF applications have been completed, including BlackRock. Delayed by SEC. Despite the delays and regulatory uncertainty surrounding the Bitcoin ETF, many cryptocurrency enthusiasts, including Seyffart and Bloomberg analyst Eric Balchunas, are very optimistic about the SEC’s approval of the Spot Bitcoin ETF. Two Bloomberg analysts predicted a 90% chance of the Bitcoin ETF being listed. Approved until January 2024.

Seed movement does not certify Bitcoin ETF launch

BlackRock’s seed fund plan is welcome news for the cryptocurrency community, but it does not officially confirm the company’s approval. Learn about Bitcoin ETF.

Seifart is also presentation BlackRock’s seed fund plans do not imply a possible launch of a Spot Bitcoin ETF by the asset management company.

Before that — seed movement does not mean firing

It appears that BlackRock *plans* to take action on January 3rd. They have $10 million invested in ETFs. But does this mean BlackRock expects it to launch soon? pic.twitter.com/PknXs5B2TP

— James Seyff (@JSeyff) December 22, 2023

The seed generation basket proceeds are scheduled for January 3, 2024, according to information published by Bloomberg analysts. However, plans can change at any time.

“Seed movement does not mean firing. It appears that BlackRock *plans* to take action on January 3rd. They have $10 million invested in ETFs. But does this mean BlackRock expects it to launch soon?” Seyffart said.

Featured image from Freepik

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