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BlackRock Secures $100K Seed Funding For Proposed Spot Bitcoin ETF

Investment giant BlackRock Inc. (NYSE:BLK) secured $100,000 as seed funding for its proposed Bitcoin (CRYPTO: BTC) exchange-traded fund (ETF), according to a recent Securities and Exchange Commission (SEC) filing. What Happened: BlackRock revealed this investment was made in October. An investor, whose identity remains undisclosed, agreed to purchase $100,000 in shares, taking delivery of 4,000 shares at a per-share price of $25, CoinDesk reported. The seed capital will be used for the creation of units underlying the ETF, enabling shares to be offered and traded in the open market. See Also: …