BlackRock investor scooped $100k in seed shares for spot BTC ETF
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. This seed capital investor initiated the purchase on Oct. 27 and took delivery of 4,000 share s on the same day. Seed capital is the initial funding required to finance creation units underpinning an ETF. BlackRock offered each seed share at $25, the $10 trillion asset management heavyweight disclosed in a Dec. 4 amendment to its S-1 filing with the U.S. Securities and Exchange Commission (SEC). Bitwise filed an updated prospectus for a spot Bitcoin (BTC) ETF as crypto.news reported, although no mention was made of seed share s. This means BlackRock is likely the sole issuer that has received a batch of seed funding for now. 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...