Odaily News Bloomberg Senior ETF Analyst Eric Balchunas posted on the Seed Capital, this is earlier than expected. Eric Balchunas believes that BlackRock’s introduction of Seed Capital should not be over-interpreted. This move does not mean that its ETF will be launched this month or next month, and the relevant information is not in the original application document. The introduction of Seed Capital shows that they are launching ETFs. Another step in the process. According to previous news, after studying the S-1 amendment submitted by BlackRock, American financial lawyer Scott Johnsson discovered 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.