Tomorrow, January 3, 2024, BlackRock is expected to purchase an additional $10 million in BTC as initial funding for its Bitcoin spot ETF, according to the latest news from analysts.
Summary
Bitcoin News: BlackRock and the $10 million BTC initial funding on January 3, 2024
At this moment, among the excitement for the pump of BTC price, which has risen to $45,800 at the time of writing, there is also the hot topic of bitcoin spot ETFs.
And indeed, there are those who are reminding the crypto-community that BlackRock, one of the top contenders as the next issuer of the first Bitcoin spot ETF in the USA, should purchase a whopping $10 million worth of BTC tomorrow, January 3, 2024.
“On January 3, 2024, BlackRock will acquire an additional $10 million of #BITCOIN”
This reminder dates back to the news published on X by Bloomberg analyst, Eric Balchunas, at the end of December, stating that BlackRock will buy such amount in BTC as initial funding in its Bitcoin spot ETF.
Immediately after, Bloomberg analyst, James Seyffart, would have explained that this injection of start-up capital would not mean the immediate launch of the ETF. Seyffart also raised the thought that it could mean that the world’s largest asset manager expects its release shortly after.
“Before this — SEED MOVEMENTS DO NOT MEAN LAUNCH. It seems that BlackRock is *planning* to make some moves on January 3rd. They are launching the ETF with 10 million dollars. But maybe it means that BlackRock expects a launch shortly after?”
Bitcoin News: BlackRock’s funding in line with predictions on spot ETF issuance
BlackRock’s plan to launch its exchange-traded fund (ETF) on bitcoin with $10 million on January 3 aligns with other predictions regarding the approval of the first bitcoin spot ETF by the SEC.
And indeed, just in these days, on X, several forecasts are circulating creating hype in the crypto community.
For example, the statements of the correspondent of FOX Business Network (FBN), Charles Gasparino, see the news of the approval of the Bitcoin spot ETF as early as this Friday, January 4, 2024.
The CEO of Galaxy Digital, Mike Novogratz, would have stated that in his opinion the deadline for the Securities and Exchange Commission (or SEC) of the USA to approve the first Bitcoin spot ETF is at the latest January 10, 2024.
In this sense, Novogratz has created a New Year’s tweet, adding the phrase “Big Things Coming” (or Grandi Cose in Arrivo in Italian) to remind of his prediction.
In addition, the head of digital assets at Goldman Sachs, Mathew McDermott, is also predicting that the potential approval of a spot exchange-traded fund (ETF) for bitcoin and ether could increase institutional interest in cryptocurrencies.
Everything ready for the landing at Nasdaq with the IBIT ticker
The latest news regarding BlackRock’s application for the issuance of the Bitcoin spot ETF sees the confirmation of the new ticker: IBIT.
This means that for the world’s largest asset manager, everything is ready to land on the Nasdaq.
Specifically, in fact, in the document presented by iShare of BlackRock at the SEC, there is talk of shares that will be listed and traded on NASDAQ with the symbol “IBIT”.
All this happens after Blackrock has met with the SEC multiple times compared to other applicants for bitcoin spot ETFs. The asset manager met with the SEC on November 20, November 28, December 11, December 14, December 19, and December 21.
Not only that, Blackrock has also submitted three amendments to its bitcoin ETF application in December.
