BlackRock Receives Funding to Support Proposed Bitcoin ETF With Direct Bitcoin Exposure
- BlackRock received $100K seed funding for proposed Spot Bitcoin ETF
- Seed funding will allow creation of units underlying the ETF so shares can trade publicly
- BlackRock ETF will invest directly in bitcoin rather than bitcoin futures
- BlackRock's ETF application is one of 13 awaiting SEC approval
- Analysts estimate 90% chance of SEC approving a spot bitcoin ETF in January