BlackRock S-1 Amendment: Seed Capital Preparing Bitcoin Spot ETF

Odaily News American financial lawyer Scott Johnsson discovered after studying the S-1 amendment submitted by BlackRock that BlackRock has obtained a CUSIP number prepared for the launch of a Bitcoin spot ETF. CUSIP stands for Committee on Uniform Securities Identification Procedures. This number is also used as the U.S. Securities Unified Identification Code. Documents show that BlackRock is preparing Seed Capital for a Bitcoin spot ETF. Seed Capital is the underlying asset purchased by the issuing company itself when the new ETF is launched to meet future demand for the product. Specifically, whenever a new ETF is launched, the ETF must have at least 100,000 shares outstanding. Therefore, ETFs typically have at least $1 million in Seed Capital and often more than $2.5 million.