BlackRock Raises $100k for Bitcoin ETF But Approval Still Uncertain
• BlackRock raised $100,000 in seed funding for its spot bitcoin ETF, showing commitment to launching the fund • But the seed amount is smaller than normal - a couple million would be more typical • Disclosure was a positive step but doesn't guarantee SEC approval of the ETF • Analysts think there's a 90% chance at least one spot bitcoin ETF is approved by January 2024 • BlackRock seed funding news caused some market excitement, but was just an incremental step