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 <p>According to BlackRock’s latest filing, an unknown investor agreed to purchase $100,000 spot Bitcoin (BTC) ETF (Exchange Traded Fund) shares on October 27, 2023. The world’s largest asset manager revealed the seed fund in a filing with the US SEC (Securities and Exchange Commission). According to the document, the investor “<strong>took delivery of 4,000 shares at a per-share price of $25.00.</strong>“</p>
 <p><strong>Also Read: Bitcoin: Standard Chartered Says ETF to Bring 165% Gain in 2024</strong></p>
 <p>Seed capital is the funds raised to develop a product, in this case, to create the units underlying the ETF.</p>
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 <p>BlackRock’s spot Bitcoin (BTC) ETF will invest in the original cryptocurrency instead of futures investment vehicles tied to BTC. BlackRock’s spot BTC ETF application is one of 13 waiting for regulatory approval.</p>
 <h3 class="wp-block-heading" id="h-when-will-the-sec-approve-a-spot-bitcoin-etf">When will the SEC approve a spot Bitcoin ETF?</h3>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/12/05/a4e6faf4bb5f8676adf39bfffe02c8c6.webp" alt="Bitcoin etf" class="wp-image-117016" srcset="https://cdn.thebittimes.com/images/2023/12/05/a4e6faf4bb5f8676adf39bfffe02c8c6.webp 1024w, https://cdn.thebittimes.com/images/2023/12/05/a4e6faf4bb5f8676adf39bfffe02c8c6.webp 300w, https://cdn.thebittimes.com/images/2023/12/05/a4e6faf4bb5f8676adf39bfffe02c8c6.webp 768w, https://cdn.thebittimes.com/images/2023/12/05/a4e6faf4bb5f8676adf39bfffe02c8c6.webp 380w, https://cdn.thebittimes.com/images/2023/12/05/a4e6faf4bb5f8676adf39bfffe02c8c6.webp 550w, https://cdn.thebittimes.com/images/2023/12/05/a4e6faf4bb5f8676adf39bfffe02c8c6.webp 800w, https://cdn.thebittimes.com/images/2023/12/05/a4e6faf4bb5f8676adf39bfffe02c8c6.webp 1160w, https://cdn.thebittimes.com/images/2023/12/05/a4e6faf4bb5f8676adf39bfffe02c8c6.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source – Crypto News
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 <p>The SEC has missed all its deadlines for approving a spot BTC ETF in 2023. The upcoming deadlines are in early 2024. According to analysts at Bloomberg, there is a 90% chance that the SEC will approve one or more spot BTC ETF applications in January 2024.</p>
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 <p>Furthermore, SkyBridge Capital founder Anthony Scaramucci also anticipates the SEC to approve a spot BTC ETF by January 2024.</p>
 <p><strong>Also Read: Bitcoin: Anthony Scaramucci Predicts Spot BTC ETF Approval Date</strong></p>
 <p>Nonetheless, the SEC may delay its decision due to technical reasons. Earlier this year, the SEC partially lost its legal battle with Ripple, where it claimed that the firm’s sale of XRP fell under securities laws. However, a US court ruled that selling XRP to retail investors did not breach securities laws. The defeat may have led the financial watchdog to rethink its crypto stance and may take more time in future applications.</p>
 <p>Nonetheless, a spot BTC ETF in the US is long overdue, and the approval from the SEC may propel the original cryptocurrency to new highs. BTC recently surpassed the $41k mark, and many analysts anticipate a bull market for the cryptocurrency sector in early 2024.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-blackrock-received-100k-as-spot-btc-etf-seed-fund-tbt72607.html">https://thebittimes.com/bitcoin-blackrock-received-100k-as-spot-btc-etf-seed-fund-tbt72607.html</a></p>

Bitcoin: BlackRock Received $100K As Spot BTC ETF Seed Fund

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