Bloomberg ETF analyst Eric Balchunas posted on the Is new demand, but may help them early in the ETF launch race. However, I think the more interesting thing to watch is if and when BlackRock decides to add IBTC to their model portfolio.”
Bloomberg analyst James Seyffart added: “$200 million is just a best estimate for BlackRock (Bitcoin) Private Trust’s AUM. We don’t know the exact amount. So if the (Bitcoin Spot) ETF gets Approved, in theory many people will voluntarily move their Bitcoin into the ETF. I wouldn't be surprised if the ETF is added to one of their more aggressive models within a few months of release (all just speculation )."
According to previous news, BlackRock has submitted the second revised S-1 document (prospectus) for its Bitcoin spot ETF (iShares Bitcoin Trust) application to the U.S. SEC. BlackRock added to its latest filing that the trust manager will take steps to monitor abnormal price movements, added language on anti-money laundering compliance, and included an audit report from PricewaterhouseCoopers.
In addition, BlackRock disclosed in the filing that the company received $100,000 in “seed capital” for its proposed spot Bitcoin ETF. The document states: "Seed capital investors agree to purchase US$100,000 of shares on October 27, 2023, and deliver 4,000 (seed) shares at a unit price of US$25 on the same day."