Blackrock’s $10 million Investment in Seed Basket
Several companies, including BlackRock, Hashdex, and Pando Asset, updated their filings with the term “seed creation basket” launch on January 3, 2024, an important step in setting up a new ETF.
BlackRock’s Strategic Response to ETF Rivalry
While other companies are focusing on consumer-facing ads for their spot Bitcoin ETFs, BlackRock is taking a different approach. Instead of flashy ads, they are prioritizing the seeding process for IBIT and their spot ETF.
ETF Approval on Jan. 3? Analyst Rebuff’s Claims
There was confusion surrounding reports hinting that the ETF approval would happen on January 3, but Bloomberg analyst James Seyffart clarified that BlackRock’s $10 million investment in seed funding on January 3 doesn’t directly signify an immediate ETF launch.
Hot Take
BlackRock is focusing on ensuring a smooth and substantial launch for its ETF, indicating a strategic response to the ongoing marketing competition in the spot Bitcoin ETF space.
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