BlackRock Plans $10 Million Bitcoin Purchase Ahead of Potential ETF Approval
The SEC is anticipated to disclose its verdict on spot Bitcoin ETFs in the upcoming days. Concurrently, BlackRock, a global leader in asset management and a key player in the ETF competition, is gearing up to make a strategic move in anticipation of the potential approval of these ETFs. The firm is contemplating an initial investment by acquiring Bitcoin (BTC) valued at $10 million.
Analyst James Seyffart disclosed this advancement on the X platform on December 23rd. Seyffart highlighted that the acquisition of Bitcoin by the company aligns with the anticipated approval in January. Nevertheless, he emphasized that the documentation regarding this acquisition is not yet finalized or approved. Although the company was projected to execute the purchase on January 3rd, as of now, no official announcement has been made.
