According to Odaily, BlackRock, one of the world's largest asset management companies, is reportedly planning to purchase $10 million worth of Ethereum (ETH) to fund its Ethereum ETF. The company, which manages $9 trillion in assets, stated this in a document submitted to the U.S. Securities and Exchange Commission (SEC).
On May 21, 2024, the sponsor's affiliated company, Seed Capital Investors, under certain conditions, purchased a seed creation basket containing 400,000 shares at a price of $25 per share. The total revenue obtained by the trust fund from the sale of the seed creation basket was $10 million. The trust fund plans to use the proceeds from the seed creation basket to purchase ETH at some point, although the purchase may not have been made yet.