Blackrock Expected to Buy Bitcoin to Invest in Its Spot Bitcoin ETF This Month

Many people on social media also pointed out that an amendment to the Registration Statement for the Ishares Bitcoin Trust, filed with the US Securities and Exchange Commission (SEC) on October 18, suggests that Blackrock may buy bitcoin this month to jumpstart Bitcoin futures. bitcoin ETF place.

Balchunas explains:

"Blackrock stated in their recent spot bitcoin ETF amendment that they will seed the ETF in October. Don't want to read too much into it but this is new info that wasn't in the original filing so it's worth noting."

However, he clarified : “Seeding usually doesn't raise a lot of money, just enough to get the ETF going. So I wouldn't read this as 'oh my gosh Blackrock bought a ton of bitcoin' at all, but the fact that they did it and disclosed it represents another step in the rollout process.”

The Ishares Bitcoin Trust sponsor is Ishares Delaware Trust Sponsor LLC, a Delaware limited liability company and an indirect subsidiary of Blackrock, the filing details, adding that “Ishares” is a registered trademark of Blackrock Inc.

Crypto enthusiast Martin Folb, aka “Martyparty,” details in with this capital, in this case, the raw original BTC. This initial coin capital is exchanged for IBTC ETF shares, which are available for open market trading on day one, thereby establishing the ‘opening price’ of IBTC.”

source : Kevin Helms