BlackRock to Seed Bitcoin ETF in October to Quickly Launch Trading!

BlackRock has announced that it will provide initial funding for its Bitcoin ETF in October. This move, known as “seeding,” typically involves a bank or broker-dealer purchasing a number of creation units in exchange for ETF shares, allowing trading to begin on day one. While the amount of funding has not been disclosed, seed funding is typically a modest amount but sufficient to launch an ETF. The news comes on the heels of BlackRock’s recent filing of an amendment to a spot Bitcoin ETF, which adds to the growing number of applications for such products.