While the cryptocurrency market and investors were focused on the SEC’s spot Bitcoin ETF decision, a new development occurred.
According to the latest information at this point, the companies that applied for ETFs, BlackRock, İnvesco Galaxy, Valkyrie, VanEck, ARK and WisdomTree, have updated their spot Bitcoin ETF applications.
BlackRock, the world’s largest asset manager, announced in its filing with the SEC that it has set a 0.30% fee for its spot Bitcoin ETF.
BlackRock also purchased $10 million of BTC to fund its spot Bitcoin ETF, according to the form filed with the SEC.
Accordingly, BlackRock purchased a total of 227.90 BTC (worth $10 million) on Friday, January 5, to raise seed financing for its spot Bitcoin ETF product.
“…… The Foundation’s total revenue from the sale of the Seed Creation Baskets was $10,000,000.
On January 5, 2024, the Foundation purchased 227.90250 Bitcoins with proceeds from Seed Creation Baskets using the Prime Execution Agent.”
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Source: https://en.bitcoinsistemi.com/blackrock-purchased-10-million-btc-for-spot-bitcoin-etf/