BlackRock, the world’s largest asset manager, appears to be taking concrete steps to prepare for the imminent launch of its spot bitcoin exchange-traded fund (ETF).
According to a recent SEC filing, BlackRock plans to provide initial seed funding for its bitcoin ETF sometime in October. The company has also obtained a CUSIP number required for the issuance and trading of the new ETF.
Keypoints
- BlackRock plans to provide initial seed funding for its bitcoin ETF in October 2022, according to its latest SEC filing.
- The asset manager has obtained a CUSIP number for the ETF, an identifier required for issuance and trading.
- Analysts say seeding an ETF typically happens when it’s preparing to launch. The provider buys some creation units in exchange for shares.
- BlackRock could seed the ETF with an undisclosed amount of bitcoin by end of October. This suggests a launch may be imminent.
- No details yet on exact timing or…
