BlackRock Plans $10 Million Bitcoin Purchase as SEC Faces Approval Pressure
BlackRock's significant Bitcoin purchase aligns with growing pressure on the SEC to approve Spot Bitcoin ETFs. The $10 million allocation, though initially intended for January 3, has been rescheduled to January 5, emphasizing the importance of regulatory compliance. Analyst Seyffart cautions against presuming an immediate ETF launch, emphasizing a strategic move by BlackRock. The competition intensifies as Bitwise considers seeding its ETF with up to $200 million. The SEC, having run out of reasons to deny approval, is expected to make decisions between January 8 and 10, according to Seyffart's projections.
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