Bitcoin ETF

Bitcoin

Million

In a move that aligns with the growing anticipation surrounding the potential approval of a Bitcoin spot exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC), BlackRock, the world’s largest asset manager, had <a href="https://x.com/rovercrc/status/1742139422160609746?s=20" target="_blank" rel="noopener nofollow">initially planned</a> to purchase an impressive $10 million worth of BTC on January 3rd. However, recent reports indicate that Blackrock has now postponed this purchase. 
<h2 id="blackrock-adjusts-schedule-for-bitcoin-etf-seeding">BlackRock Adjusts Schedule For Bitcoin ETF Seeding</h2> 
The SEC’s anticipated approval of a Bitcoin ETF has generated significant interest and speculation within the cryptocurrency market.&nbsp; 
To pave the way for the Bitcoin ETF launch, BlackRock’s affiliate,<a href="https://bitcoinist.com/bitcoin-etfs-blackrocks-3-million-seed-round/" target="_blank" rel="noopener "> Seed Capital Investor</a>, initially purchased Seed Shares on October 27, 2023. The Seed Shares consisted of 4,000 shares at a per-share price of $25.00, amounting to a total of $100,000.&nbsp; 
These shares were later <a href="https://bitcoinist.com/blackrock-turn-spot-bitcoin-etf-cash-redemption/" target="_blank" rel="noopener ">redeemed for cash</a> in January, and the Seed Capital Investor proceeded to purchase the Seed Creation Baskets, comprising 400,000 shares, at the same per-share price.&nbsp; 
However, recent <a href="https://paynews42.com/blackrock-reschedules-seeding-of-its-bitcoin-etf-to-january-5th/" target="_blank" rel="noopener nofollow">reports </a>confirm that BlackRock has rescheduled the seeding process for its highly anticipated Bitcoin ETF. The initial $10 million seeding scheduled for January 3, which serves as a crucial step toward the ETF’s launch, is now planned for January 5th.&nbsp; 
It is worth noting that BlackRock’s decision to adjust the schedule should not come as a surprise, as regulatory approvals and <a href="https://bitcoinist.com/blackrock-seeded-bitcoin-spot-etf/" target="_blank" rel="noopener ">compliance processes</a> often require careful consideration. 
<h2 id="bitcoin-etf-approval-odds-surge-on-polymarket">Bitcoin ETF Approval Odds Surge On Polymarket</h2> 
<a href="https://polymarket.com/event/bitcoin-etf-approved-by-jan-15?tid=1704213503555" target="_blank" rel="noopener nofollow">Data </a>from the prediction market Polymarket has sent ripples of excitement through the cryptocurrency community, as it reveals a significant surge in traders’ confidence regarding the approval of a Bitcoin ETF by the US SEC before January 15.&nbsp; 
The platform’s contract price has climbed to an impressive 89 cents, indicating an 89% probability of the SEC greenlighting the highly anticipated Bitcoin ETF. Notably, this figure has seen a remarkable increase from 50% just last month. 
<img loading="lazy" decoding="async" class="size-large wp-image-272272" src="https://bitcoinist.com/wp-content/uploads/2024/01/Screenshot_8.jpg?w=980&amp;resize=980%2C598" alt="Blackrock " width="980" height="598" srcset="https://bitcoinist.com/wp-content/uploads/2024/01/Screenshot_8.jpg?w=1004 1004w, https://bitcoinist.com/wp-content/uploads/2024/01/Screenshot_8.jpg?w=640 640w, https://bitcoinist.com/wp-content/uploads/2024/01/Screenshot_8.jpg?w=768 768w, https://bitcoinist.com/wp-content/uploads/2024/01/Screenshot_8.jpg?w=980&amp;resize=980%2C598 980w, https://bitcoinist.com/wp-content/uploads/2024/01/Screenshot_8.jpg?w=750 750w" sizes="(max-width: 980px) 100vw, 980px" data-recalc-dims="1"> 
<a href="https://bitcoinist.com/crypto-gambling-barbie-vs-oppenheimer/" target="_blank" rel="noopener ">Polymarket</a>, a decentralized prediction market platform, allows users to speculate on the outcomes of various events by trading virtual shares.&nbsp;In this case, traders have staked an impressive sum of $437,394 on the SEC’s approval of the <a href="https://bitcoinist.com/bitcoin-etf-deadline-sec-paperwork/" target="_blank" rel="noopener ">Bitcoin spot ETF </a>before the mid-January deadline. 
The surge in the contract price and the corresponding increase in traders’ confidence reflects the growing optimism surrounding the prospects of a Bitcoin ETF gaining regulatory approval.&nbsp; 
Such an approval could open the floodgates for institutional investors and further legitimize the<a href="https://bitcoinist.com/bloomberg-analyst-sec-ready-to-approve-bitcoin-etf/" target="_blank" rel="noopener "> cryptocurrency market</a>. 
Interestingly, the probability reflected by the contract price on Polymarket is not merely a speculative sentiment but is backed by real investments made by traders who believe in the likelihood of a positive outcome.&nbsp; 
As the January 15 deadline approaches, market participants will closely monitor any updates from the SEC and continue to trade on prediction platforms like Polymarket, reflecting their evolving expectations.&nbsp; 
<img loading="lazy" decoding="async" class="size-large" src="https://www.tradingview.com/x/bRn3kpcS/" alt="Blackrock " width="1814" height="858"> 
As of this writing, Bitcoin has climbed to the $45,200 mark with a significant 7% uptrend in just 24 hours ahead of the potential approval of these index funds. 
Featured image from Shutterstock, chart from TradingView.com&nbsp;

BlackRock Delays $10 Million Bitcoin Purchase, New Date Unveiled

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