BlackRock Expected to Purchase $10 Million in BTC for Bitcoin Spot ETF Funding
Amidst the excitement of the rising BTC price, which is currently at $45,800, there is also speculation about Bitcoin spot ETFs. BlackRock, one of the top contenders to issue the first Bitcoin spot ETF in the USA, is expected to buy $10 million worth of BTC on January 3, 2024.
“On January 3, 2024, BlackRock will acquire an additional $10 million of #BITCOIN”
This news aligns with predictions regarding the approval of the first Bitcoin spot ETF by the SEC. While this funding doesn’t guarantee an immediate launch, it suggests that BlackRock anticipates its release shortly after.
BlackRock’s Funding Aligns with Predictions for Bitcoin Spot ETF
BlackRock’s plan to launch its Bitcoin ETF with $10 million on January 3 aligns with other predictions for the approval of the first Bitcoin spot ETF by the SEC. Several forecasts are circulating, creating hype in the crypto community.
For example, Charles Gasparino from FOX Business Network predicts that the approval could happen as early as Friday, January 4. Meanwhile, Mike Novogratz from Galaxy Digital believes that the SEC will approve it by January 10. This potential approval could increase institutional interest in cryptocurrencies.
Everything Set for Nasdaq Launch with IBIT Ticker
The latest news confirms that BlackRock’s application for a Bitcoin spot ETF has been given a new ticker: IBIT. This indicates that everything is ready for BlackRock to land on Nasdaq. The shares will be listed and traded on NASDAQ under the symbol “IBIT.”
BlackRock has met with the SEC multiple times and has made three amendments to its Bitcoin ETF application in December. This demonstrates the asset manager’s commitment to launching a Bitcoin spot ETF.
Hot Take: BlackRock Boosts Crypto Market Confidence with $10 Million BTC Purchase
BlackRock’s plan to purchase an additional $10 million worth of BTC for its Bitcoin spot ETF funding on January 3, 2024, has sparked excitement and confidence in the crypto market. This move aligns with predictions for the approval of the first Bitcoin spot ETF by the SEC.
If successful, the launch of BlackRock’s Bitcoin spot ETF could attract institutional investors and increase interest in cryptocurrencies. The anticipation of this development has led to speculation about the potential impact on BTC price and overall market sentiment.
By
By
By
By
By