{"id":179782,"date":"2023-10-24T05:44:51","date_gmt":"2023-10-24T00:14:51","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=179782"},"modified":"2023-10-24T05:44:51","modified_gmt":"2023-10-24T00:14:51","slug":"blackrock-could-seed-spot-bitcoin-etf-by-the-end-of-october-filing-suggests-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/blackrock-could-seed-spot-bitcoin-etf-by-the-end-of-october-filing-suggests-crypto-news\/","title":{"rendered":"BlackRock could \u2018seed\u2019 spot Bitcoin ETF by the end of October, filing suggests – Crypto News"},"content":{"rendered":"

BlackRock<\/a> may soon contribute seed funding to its iShares spot Bitcoin (BTC) exchange-traded fund (ETF), according to Bloomberg <\/em>analyst\u00a0Eric Balchunas Oct. 23.<\/p>\n

Balchunas noted that<\/a> recent filings suggest that BlackRock intends to contribute seed funding at an unspecified date in October. He further explained that ETF seeding occurs when an entity purchases a limited amount of \u201ccreation units\u201d in exchange for ETF shares. In this case, BlackRock would buy an amount of Bitcoin to start the fund.<\/p>\n

The purchase, if it does indeed take place before the end of the month, implies that BlackRock expects to launch the fund reasonably soon.<\/p>\n

However, BlackRock has not publicly confirmed that any such purchase is complete or underway. Furthermore, the company\u2019s filing does not specify a price or exact date. Instead, it seems to use placeholder fields for that information. As such, it seems that the filing could be updated to reflect a later date in the future.<\/p>\n

In a separate tweet, Balchunas noted that<\/a> the fund is now listed on Depository Trust & Clearing Corporation, which is responsible for clearing Nasdaq trades.<\/p>\n

BlackRock\u2019s offering is highly anticipated<\/h2>\n

BlackRock is the largest asset manager in the world and, by extension, the largest asset manager to apply for a spot Bitcoin ETF.<\/p>\n

The company was one of the first firms to submit an application for a spot Bitcoin ETF in June.<\/a> That action, in turn, prompted several other firms to apply for similar funds. The fact that BlackRock and several applicants have included surveillance-sharing agreements with Coinbase<\/a> in their ETF proposals could improve the chance of approval.<\/p>\n

Despite growing optimism around Bitcoin ETFs, which could provide mainstream and institutional investors with a regulated way to access Bitcoin, the U.S. Securities and Exchange Commission has not yet approved such a fund as of now.<\/p>\n

Following several updated filings from applicants, the SEC is now seeking comments<\/a> on numerous applications. The next notable deadline for an agency decision is set for January 2024 and concerns ARK Invest\u2019s ETF application<\/a>.<\/p>\n

The post BlackRock could \u2018seed\u2019 spot Bitcoin ETF by the end of October, filing suggests<\/a> appeared first on CryptoSlate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

BlackRock may soon contribute seed funding to its iShares spot Bitcoin (BTC) exchange-traded fund (ETF), according to Bloomberg analyst\u00a0Eric Balchunas Oct. 23. Balchunas noted that recent filings suggest that BlackRock intends to contribute seed funding at an unspecified date in October. He further explained that ETF seeding occurs when an entity purchases a limited amount […]<\/p>\n","protected":false},"author":2,"featured_media":179783,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-179782","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179782","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=179782"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179782\/revisions"}],"predecessor-version":[{"id":179785,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179782\/revisions\/179785"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/179783"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=179782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=179782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=179782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}