BlackRock Attracts the First Investor for its Bitcoin ETF
Asset management powerhouse BlackRock has secured seed funding for its spot Bitcoin ETF, still awaiting the green light from the U.S. Securities and Exchange Commission (SEC).
On this page
Asset management powerhouse BlackRock has secured seed funding for its
spot Bitcoin ETF, still awaiting the green light from the U.S.
Securities and Exchange Commission (SEC).
According to the SEC filings, an unknown investor acquired 4,000 shares at the price of $25 each on October 23, 2023, totaling a $100,000 investment.
The
filings also detail BlackRock's fee payment strategy, which involves
lending either Bitcoin or cash through commercial loans. This approach
is designed to sidestep the need for selling off Bitcoin, aiming to
minimize any adverse effects on its market price.
The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.
Articles by this author
