BlackRock and VanEck Each Inject Seed Funds into Their Respective BTC Spot ETFs
WikiBit 2024-01-09 15:42
BlackRock and VanEck Each Inject Seed Funds into Their Respective BTC Spot ETFs
The revised S-1 filings reveal that BlackRock has injected a $10 million seed fund into its Bitcoin spot ETF, while VanEck has injected a $72.5 million seed fund into its Bitcoin spot ETF.
Seed funds refer to contributions made by banks and brokerages to purchase component stocks (in this case, Bitcoin) in exchange for ETF shares that can be traded on the open market on the day of listing. Seed funds are typically of a modest scale, designed to facilitate the operation of the ETF. Bloomberg analyst James Seyffart suggests that injecting seed funds may indicate an imminent launch of the ETF.
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