BlackRock Updates ETF Application: $100,000 Raised

It became known that BlackRock and Bitwise corporations have updated their applications to launch a Bitcoin ETF with the US Securities and Exchange Commission (SEC). In its filing, BlackRock said it received $100,000 in “seed capital.”

“The seed capital investor agreed to purchase $100,000 in shares on October 27, 2023, and on October 27, 2023 took delivery of 4,000 shares at a per-share price of $25.00 (the ‘seed shares’),” the statement said.

Seed capital is the initial funding for the ETF so that shares can be offered and sold on the open market. BlackRock’s proposed “iShares Bitcoin Trust” would invest directly in BTC rather than its futures.

There are currently 13 applications under consideration by the Commission. The SEC is expected to approve one or more spot ETFs early next year. Bloomberg analysts estimate the likelihood of approval in January at 90%.