Blackrock Could Seed It’s Bitcoin Spot ETF This Month – Blockonomi

BlackRock, the world’s largest asset manager, appears to be taking concrete steps to prepare for the imminent launch of its spot bitcoin exchange-traded fund (ETF).

According to a recent SEC filing, BlackRock plans to provide initial seed funding for its bitcoin ETF sometime in October. The company has also obtained a CUSIP number required for the issuance and trading of the new ETF.

How To Get Free Crypto  


  • BlackRock plans to provide initial seed funding for its bitcoin ETF in October 2022, according to its latest SEC filing.
  • The asset manager has obtained a CUSIP number for the ETF, an identifier required for issuance and trading.
  • Analysts say seeding an ETF typically happens when it’s preparing to launch. The provider buys some creation units in exchange for shares.
  • BlackRock could seed the ETF with an undisclosed amount of bitcoin by end of October. This suggests a launch may be imminent.
  • No details yet on exact timing or amount to be seeded. The filing has placeholder fields for that information.
  • BlackRock’s bitcoin ETF is highly anticipated as they are the largest asset manager applying for a spot bitcoin ETF.
  • SEC has not approved a spot bitcoin ETF yet, but momentum is growing with major firms applying. BlackRock’s surveillance agreement with Coinbase could help.

Industry analysts say these latest moves suggest BlackRock expects to receive SEC approval and launch its bitcoin ETF in the near future. Typically, seed funding is one of the final steps asset managers take before bringing a new ETF to market.

“It happens when ETFs are preparing to launch,” said Eric Balchunas, Senior ETF Analyst at Bloomberg.

While the SEC has yet to approve a spot bitcoin ETF in the US, optimism is growing as major financial institutions like BlackRock, Valkyrie, and Galaxy Digital submit applications. BlackRock’s enormous influence as the world’s largest asset manager could help sway regulators.

By seeding the new bitcoin fund with its own capital, BlackRock is signaling its confidence that the long-awaited first spot bitcoin ETF could soon become a reality. With the SEC under pressure to finally approve a bitcoin ETF, BlackRock appears to be gearing up to be first out of the gate.

Go to Source
Author: Oliver Dale

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

You May Also Like

More From Author

This site uses Akismet to reduce spam. Learn how your comment data is processed.