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BlackRock Plans to Seed its Spot Bitcoin ETF in October

Eric Balchunas, the Senior ETF Analyst for Bloomberg, recently highlighted an intriguing development in BlackRock’s spot Bitcoin ETF amendment. It appears that the world’s largest asset manager is planning to seed the fund this month. This information was brought to light by Scott Johnsson, an investor at Van Buren Capital, who also noted that BlackRock has obtained a CUSIP number for the ETF.

A CUSIP number serves as a unique identifier for securities and is crucial during the issuance and trade settlement processes. The fact that BlackRock is taking steps to seed the ETF suggests a significant move in the works. Seeding typically involves initial funding provided by a bank or broker dealer to purchase a few creation units in exchange for ETF shares that can be traded on the open market on the first day.

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin62,259 0.40 % 0.36 % 12.28 %
Litecoin79.29 0.12 % 1.57 % 19.30 %
XRP0.4881 0.32 % 2.01 % 20.22 %
Ethereum2,197.2 0.23 % 0.67 % 2.46 %
USDC1.000 0.10 % 0.02 % 0.08 %
Cardano0.2543 0.15 % 1.68 % 3.38 %
Tether0.9990 0.10 % 0.04 % 0.02 %
Binance Coin (Wormhole)222.47 0.38 % 4.71 % 3.08 %