Investment giant BlackRock has disclosed in its latest filing to the US SEC that it has secured $100,000 in "seed capital" for its proposed physically-backed bitcoin ETF. The filing states: "Seed capital investors have agreed to purchase $100,000 in shares on October 27, 2023, and deliver 4,000 shares at a price of $25 per share ('Seed Shares')." (CoinDesk)
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BlackRock Spot Bitcoin ETF Receives $100,000 in ‘Seed Funding’
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QCP Capital has published an analysis indicating that the recent drop in the price of Bitcoin has resulted in long liquidations exceeding $430 million. This drop coincides with the end of five consecutive days of net inflows for spot ETFs, which recorded a outflow of $438 million on Monday, while MicroStrategy fell by 4.4%. With the US holiday approaching and no immediate catalyst to push prices higher, BTC's path towards $100,000 has stalled. In addition, the implied volatility of ETH has turned to bearish options rather than bullish options, and market concerns about downside risks may intensify, especially with the release of the FOMC meeting minutes and PCE data. However, in the long run, this market decline is not an excessive correction. Bitcoin has only retreated to last week's level. Since Trump's election, the market has become extremely overbought and leveraged, so a pause is inevitable. -
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Cointime July 27th News Express
1. As of July 25, BlackRock IBIT held more than 338,000 bitcoins, an increase of more than 1,092 bitcoins from the previous day. -
As of July 25, BlackRock IBIT held more than 338,000 bitcoins, an increase of more than 1,092 bitcoins from the previous day.
BlackRock's official update on the Bitcoin ETF shows that as of July 25th, the market value of IBIT has reached $21,890,121,436.41, and the position has increased to 338,128.5551 BTC, an increase of 1,092.7881 BTC from the previous trading day. -
BlackRock IBIT saw a total net inflow of $705 million this week
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