Bitcoin: BlackRock Received $100K As Spot BTC ETF Seed Fund

On October 27th, 2023 BlackRock – the world’s largest asset manager – filed with the SEC a document revealing that an unknown investor had “agreed to purchase $100,000 worth of spot BTC ETF shares – a cryptocurrency-tied exchange traded fund. The document defined this as “seed capital” – funds raised to back the building an ETF platform with units based around Bitcoin itself; compared to the 2nd generation cryptocurrenices like XRP which link to actual shares, not just BTC alone.

The SEC has continually missed every possible deadline for the approval of a spot BTC ETF for 2023, but the industry consensus is that the final thumbs-up decision very likely would’ve come today in January 2024 – with the ever perspicacious Bloomberg predicting a ninety percent positive outcome – quite remarkable. The defiance of many of the experts comes in large from the recent court fruition between Ripple and the SEC legal.#1 | Not even just reported elsewhere, but rightfully endorsed by Anthony Scaramucci startups together that a BTC ETF & 22 approval shall undoubtedly take place early next year.

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