Blackrock has revealed a plan to seed its spot bitcoin exchange-traded fund (ETF) with $10 million on Jan. 3. The world’s largest asset manager has engaged in six recent meetings with the U.S. Securities and Exchange Commission (SEC) to address its filing. In response to the SEC’s concerns, the firm has opted for the cash creation model, departing from its initial preference for the in-kind model. Blackrock Amends Spot Bitcoin ETF Filing After 6 Meetings With SEC Blackrock, the world’s largest asset manager, filed an amendment to its registration statement (S-1) for a spot bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC) on Friday. The firm disclosed that it plans to seed Ishares Bitcoin Trust with $10 million on Jan. 3, 2024. The amendment details that the seed capital investor, an affiliate of the trust’s sponsor, purchased seed shares worth $100,000 for the spot bitcoin ETF on Oct. 27, subject to conditions. The filing also outlines the
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