TechFlow news — U.S. financial lawyer Scott Johnsson tweeted that BlackRock's amended S-1 filing includes a CUSIP number for its upcoming spot Bitcoin ETF. The CUSIP (Committee on Uniform Securities Identification Procedures) number is a unique identifier assigned to all registered stocks and bonds in the United States.
Additionally, the documents indicate that BlackRock may begin preparing seed capital for its spot Bitcoin ETF this month. Seed capital refers to funds provided by banks or brokerages that purchase the underlying assets—Bitcoin, in this case—to receive ETF shares that can be traded publicly upon listing.
Seed capital amounts are typically modest, sufficient only to launch the ETF. When launching a new ETF, at least 100,000 shares must be outstanding. As such, ETFs usually start with at least $1 million in seed capital, often exceeding $2.5 million.
