Shift

Bitcoin ETF

Bitcoin

The race among major financial institutions to launch the first US Bitcoin Exchange-Traded Fund (ETF) heats up, with Bitwise taking the lead with a significant $200 million seed capital.   
This amount exceeds <a href="https://optimisus.com/news/crypto-news/blackrock-nears-bitcoin-etf-launch-facing-sec-scrutiny-over-using-a-third-party-broker/">BlackRock</a>'s $10 million seed capital, giving Bitwise a strong start in the race to launch a Bitcoin ETF.   
Bitwise recently filed its S-1 form, revealing a seed capital of $200 million for its Bitcoin ETF. While the identity of the investor is unknown, the substantial amount positions Bitwise favorably in the competitive ETF landscape.   
Seed capital is critical for launching an ETF, facilitating investor access, and supporting the creation of units that serve as the ETF's foundation.   
In a significant development, BlackRock, a major financial industry player, announced JPMorgan as its Authorized Participant (AP) in their updated ETF filing. Given JPMorgan CEO Jamie Dimon's well-known skepticism toward Bitcoin, this collaboration is surprising.   
Dimon has been a vocal critic of crypto, so this partnership between <a href="https://optimisus.com/news/crypto-news/blackrock-and-nasdaq-collaborate-with-sec-on-game-changing-bitcoin-etf/">BlackRock</a> and JPMorgan marks a significant shift in the traditional finance sector's stance on crypto assets.   
The collaboration between BlackRock and JPMorgan highlights the evolving relationship between traditional finance and the crypto world.   
The participation of a major bank that has traditionally been skeptical of cryptocurrencies lends credibility to the Bitcoin ETF and highlights the industry's adaptation to the changing landscape.   
This move indicates that digital assets are becoming more accepted and integrated into mainstream financial markets. 
The post <a href="https://optimisus.com/news/crypto-news/bitwise-takes-the-lead-in-us-bitcoin-etf-race-with-200m-seed-capital-blackrock-partners-with-jpmorgan-in-finances-crypto-shift/">Bitwise Takes the Lead in US Bitcoin ETF Race with $200M Seed Capital, BlackRock Partners with JPMorgan in Finance’s Crypto Shift</a> appeared first on <a href="https://optimisus.com">Optimisus</a>.

Bitwise Takes the Lead in US Bitcoin ETF Race with $200M Seed Capital, BlackRock Partners with JPMorgan in Finance’s Crypto Shift

Optimisus

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