BlackRock Attracts the First Investor for its Bitcoin ETF

posted  5 Dec 2023
Photo - BlackRock Attracts the First Investor for its Bitcoin ETF
Asset management powerhouse BlackRock has secured seed funding for its spot Bitcoin ETF, still awaiting the green light from the U.S. Securities and Exchange Commission (SEC).

According to the SEC filings, an unknown investor acquired 4,000 shares at the price of $25 each on October 23, 2023, totaling a $100,000 investment.

The filings also detail BlackRock's fee payment strategy, which involves lending either Bitcoin or cash through commercial loans. This approach is designed to sidestep the need for selling off Bitcoin, aiming to minimize any adverse effects on its market price.