Bloomberg ETF Analyst: Don’t Read Too Much Into the Introduction of Seed Funding for BlackRock’s Spot Bitcoin ETF

On October 24th, Bloomberg senior ETF analyst Eric Balchunas stated that the revised version of the BlackRock iShares physical Bitcoin ETF mentions two things: first, it has obtained the CUSIP required to launch; second, it plans to seek seed capital in October, earlier than expected.

Balchunas believes that the introduction of seed capital by BlackRock should not be overinterpreted, as it does not necessarily mean that the ETF will be launched this month or next, and this information is not included in the original application documents. Currently, analysts have increased the likelihood of the physical Bitcoin ETF being approved in January 2024 to 90%.