Franklin

Bitcoin ETF

Pando

<div class="cryptonews">
 <p class="is-style-lead">An unknown investor paid $100,000 in seed capital for shares in BlackRock’s spot Bitcoin ETF, which was filed in June 2023 and preceded a wave of applications with the SEC.</p>
 <p>This seed capital <a rel="noopener noreferrer nofollow" title="investor" href="https://thebittimes.com/tag/investor.html">investor</a> initiated the purchase on Oct. 27 and took delivery of 4,000 <a rel="noopener noreferrer nofollow" title="share" href="https://thebittimes.com/tag/share.html">share</a>s on the same day. Seed capital is the initial funding required to finance creation units underpinning an ETF.&nbsp;</p>
 <p>BlackRock offered each seed <a rel="noopener noreferrer nofollow" title="share" href="https://thebittimes.com/tag/share.html">share</a> at $25, the $10 trillion asset management heavyweight disclosed in a&nbsp; Dec. 4 amendment to its S-1 filing with the U.S. Securities and Exchange Commission (SEC).</p>
 <p>Bitwise filed an updated prospectus for a spot Bitcoin (BTC) ETF as crypto.news reported, although no mention was made of seed <a rel="noopener noreferrer nofollow" title="share" href="https://thebittimes.com/tag/share.html">share</a>s. This means BlackRock is likely the sole issuer that has received a batch of seed funding for now.&nbsp;</p>
 <p>The Wall Street titan was also negotiating with the SEC over redemption models for spot BTC ETFs, favoring an “in-kind structure” that Bloomberg experts surmised could benefit issuers and <a rel="noopener noreferrer nofollow" title="investor" href="https://thebittimes.com/tag/investor.html">investor</a>s alike.</p>
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Analyst: SEC likely to prioritize ‘cash create’ spot Bitcoin ETFs
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 <p>BlackRock filed for its iShares Bitcoin Trust (IBTC) in June 2023, making both crypto and mainstream headlines since the bid was for a product historically denied by the SEC. However, BlackRock’s largely successful record with the SEC bolstered hopes of a nod from the securities regulator this time.</p>
 <p>A raft of applications also followed from issuers like Invesco, WisdomTree, Franklin Templeton, and Valkyrie. Pando recently joined the race as the 13th issuer following its late November filing. Experts predict a decision on these filings by January 2024.</p>
 <p>Additionally, the appetite for a spot Bitcoin ETF galvanized interest in the same product for Ethereum, crypto’s second largest token and blockchain after BTC.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Bloomberg analysts estimate spot Bitcoin ETF market to hit $100b
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/blackrock-investor-scooped-100k-in-seed-shares-for-spot-btc-etf-tbt72698.html">https://thebittimes.com/blackrock-investor-scooped-100k-in-seed-shares-for-spot-btc-etf-tbt72698.html</a></p>

BlackRock investor scooped $100k in seed shares for spot BTC ETF

TheBitTimes

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