BlackRock, the largest asset manager, is preparing million-dollar financing for a Bitcoin (BTC) exchange-traded fund (ETF). The company recently updated its S-1 filing with the U.S. Securities and Exchange Commission (SEC) for a Bitcoin ETF, according to information from Bloomberg analyst James Seyffart.

The asset manager’s amended S-1 filing shows a $10 million seed funding allocation for its Bitcoin ETF in cash. The scheduled start date is January 3rd.

“It appears BlackRock is planning to make moves on January 3rd. They are seeding the ETF with $10 million. But perhaps it means that BlackRock expects a launch to happen soon after?”, suggested the analyst.

The crypto community estimates that a Bitcoin ETF will be launched in January 2024. But, according to QCP Capital’s recent forecast, the market will receive approval within three weeks.

As QCP Capital noted, a spot Bitcoin ETF approval could come on January 5th or January 8th-10th, 2024.

Recently, a significant meeting took place in the world of cryptocurrencies, marking a potential breakthrough for the sector. Representatives from financial giants, BlackRock and Nasdaq, met with the United States Securities and Exchange Commission (SEC), highlighting a strategic movement towards innovation and security in the cryptocurrency market.

This meeting’s main focus was the discussion on the new Bitcoin ETF proposed by BlackRock. The introduction of this ETF represents an opportunity to democratize investing in Bitcoin by making it accessible through the traditional stock market. The focus of the meeting revolved around Nasdaq’s rules for listing ETFs, a crucial point in ensuring the safe and equitable operation of the ETF.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.

Source: https://portalcripto.com.br/blackrock-prepara-financiameno-milionario-para-etf-bitcoin/



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