Tag: ETF

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 shares 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.…

SEC pushes deadline to decide on Grayscale spot Ethereum ETF

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The United States Securities and Exchange Commission has delayed its decision on whether to approve or disapprove of a spot Ether (ETH) exchange-traded fund, or ETF, offering from asset manager Grayscale. In a Dec. 5 notice, the SEC said it would designate a longer period on whether to approve or disapprove of a proposed rule change that would allow NYSE Arca to list and trade shares of the Grayscale Ethereum Trust. The commission’s announcement was one of the first following an appellate court ordering the SEC to review Grayscale’s Bitcoin…

BlackRock, Bitwise File Updated Applications for Spot Bitcoin ETF

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BlackRock’s updated filing included several changes, ranging from themes like security, risks, disclosures, to the structure of the Trust. In total, 21 notable amendments were made in the asset management giant’s latest update, CryptoSlate noted. Others include potential regulatory impacts on the ETF and how to navigate the regulatory landscape in other jurisdictions such as the UK and the EU. Original

Pando joins U.S. spot Bitcoin ETF race with newest filing

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In a Dec. 5 post from Bloomberg Intelligence analyst James Seyffart, Swiss asset manager Pando was announced as an official entrant into the competition for a US spot Bitcoin ETF, filing a 19b-4 through the Chicago Board Options Exchange (CBOE). According to Seyffart, the new filling brings the number of potential issuers to 13. Better late than never The announcement, via X, highlights that Pando has entered the U.S. spot Bitcoin competition as a recent participant despite having established a presence with three other spot crypto exchange-traded products (ETPs) on…

BlackRock and Bitwise Update Spot Bitcoin ETF Applications with SEC

Market analysts interpret these recent filings as indications of the ongoing collaborative efforts between the SEC and major issuers to navigate the regulatory landscape. In a recent development, asset managers BlackRock Inc (NYSE: BLK) and Bitwise have submitted amended filings to the US Securities and Exchange Commission (SEC) for their proposed spot Bitcoin (BTC) Exchange-Traded Funds (ETFs). BlackRock Inc’s Bitcoin ETF Strategic Moves The revised documents, now accessible on the SEC website, point to ongoing discussions between the SEC and major market players regarding the approval of a spot Bitcoin…

BlackRock received $100K seed funds for Bitcoin ETF — SEC filing

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The world’s largest asset manager, BlackRock, received $100,000 in seed funding from an unknown investor for its spot Bitcoin (BTC) exchange-traded fund (ETF) in October 2023, according to its latest United States Securities and Exchange Commission (SEC) filing. The SEC filing revealed that the investor agreed to purchase $100,000 in shares on October 27, 2023, in exchange for 4,000 shares at $25.00 per share price. The seed funding allows an ETF to fund the creation of underlying shares that can be offered and traded in the open market. The latest filing…

BlackRock and Bitwise amended applications for spot Bitcoin ETF yet again

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Asset manager BlackRock has updated its application to launch the first-ever spot Bitcoin ETF in U.S. The document appeared on the website of the U.S. Securities and Exchange Commission (SEC). Bitwise has also updated its application to launch a similar tool. Analysts believe the action signals that the SEC is continuing discussions with the market about opportunities to approve a spot Bitcoin ETF. What does this mean? Without having read them — it just means that the wheel is still turning. Both the SEC and these issuers are working hard to…

BlackRock Dedicates $100K in Initial Seed Funding for Proposed Spot Bitcoin [BTC] ETF

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Bitcoin breaks above $40k, Bitcoin ETF Token raises nearly $2.5m

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Bitcoin is at the highest level since April 2022, trading at $41.28K and up 4.71% in 24 hours. Following this upswing, the broader crypto market is up 3.4% on the last day. Bitcoin breaks out above $40k The $40K milestone has long been a critical physiological area of interest for Bitcoin investors, with many worrying that it may prove to be strong resistance.  Consequently, many traders had remained partially or wholly sidelined or even been shorting Bitcoin as it approached the $40K mark. However, X commentator Mister Crypto noted that…