After the ETF is approved, is there a particular cryptocurrency exchange that will experience a surge in traffic? Will BlackRock purchase Bitcoin through a specific exchange such as Binance or Coinbase?
BlackRock is currently purchasing Bitcoin. They have informed the SEC that they plan to start a Bitcoin ETF in October. Seeding an ETF means getting the initial money needed to buy assets like Bitcoin, usually from a bank or broker-dealer.
BlackRock which is the world’s largest asset manager, has indeed made a significant move into the world of cryptocurrency. It is estimated that BlackRock has accumulated nearly 11,500 bitcoins for its newly-listed spot bitcoin exchange-traded fund (ETF) which is equivalent to nearly $500 million worth of crypto.
With that huge purchase, BlackRock has gained value in terms of Bitcoin investment rising to be the third-largest among public companies in Bitcoin worthy.
BlackRock is currently purchasing Bitcoin! The company has informed the SEC that it intends to initiate its spot Bitcoin ETF in October, gearing up for potential approval. Seeding an ETF involves securing initial capital, typically from a bank or broker-dealer, to acquire various creation units, including Bitcoin in this instance.