Four potential spot Bitcoin ETF issuers have disclosed initial seed capital exceeding $10 million before the SEC decides on bids.
Per individual filings with the U.S. Securities and Exchange Commission (SEC), VanEck has outclassed BlackRock in direct investment into its spot Bitcoin ETF. VanEck has seeded its bid with $72.5 million.
Crypto investment firm Bitwise seeded its Bitcoin (BTC) ETF with $500,000 but noted an additional $200 million cash injection expected from Pantera Capital if the SEC approves applications.
BlackRock and Fidelity seeded their BTC funds with $10 million and $20 million, respectively. These disclosures were either made or fully confirmed in amended S-1 forms filed with the SEC on Jan. 8.
As crypto.news reported, these updated filings, which included S-3 forms from firms like Grayscale, also revealed the fees these issuers plan to charge. The GBTC provider fielded the most expensive fees at 1.5%, a shock to experts as its considerably higher than competitors.
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Author: Naga Avan-Nomayo
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