TechFlow reported that BlackRock disclosed in a new filing with the SEC that it has secured $100,000 in "seed funding" for its proposed Bitcoin exchange-traded fund. According to the filing, the seed capital investor agreed to purchase $100,000 worth of shares on October 27, 2023, and delivered 4,000 shares at $25 per share on the same date ("seed shares").
The seed funding represents initial capital allowing the ETF to finance the creation units underlying the ETF so that shares can be issued and traded on the open market.
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