An anonymous investor has funded BlackRock with $100,000 for its Bitcoin ETF scheduled for the middle of next year.
Financial giant BlackRock has secured seed funding of $100,000 from an unnamed investor for its Bitcoin exchange-traded fund (ETF). According to the latest filing with the United States Securities and Exchange Commission (SEC).
The presentation details that the agreement was closed on October 27, 2023, where the investor committed to purchase 4,000 shares at a price of USD 25.00 per share. This financing marks a significant step for BlackRock, the world’s largest asset manager, towards the launch of its Bitcoin ETF, scheduled to list in the second quarter of 2024.
Furthermore, the filing reveals that the investor played a crucial role as a statutory subscriber in connection with the Bitcoin ETF Seed Creation Baskets. Providing a more detailed view of the project financing structure.
Singapore Strengthens Regulations on Bitcoin and Cryptocurrencies to Protect Consumers and Investors
The Monetary Authority of Singapore (MAS) has concluded its response to the consultation on cryptocurrency regulations. Detailing key measures for business conduct and consumer protection in the area of digital assets.
MAS, in its recently published final report, responds to the consultation paper issued in October 2022, which proposed regulatory measures for digital payment token service providers (DPTSP) in Singapore.
On December 4, Chainalysis publishes the following on X:
“The Monetary Authority of Singapore published the second and final part of its consultation response on conduct and consumer protection obligations for #digitalasset businesses, or DPTSPs.”
Notable measures include those related to consumer access, business conduct, technology management, cyber risks, and implementation timelines. MAS underlines the importance of all retail investors undergoing a risk awareness assessment before making investments, and prohibits DPTSPs from offering incentives to attract retail investors.
The SEC Must Judicially Determine Whether the Crypto Assets in the Terraform Labs Case Are Securities
The US SEC has filed a request with the US District Court for the Southern District of New York. Urging the judge handling the civil case against Terraform Labs and its co-founder, Do Kwon, to make a direct decision on the nature of certain cryptoassets. Instead of leaving it in the hands of a jury.
Likewise, the SEC argues that the crucial question of whether these cryptoassets should be considered securities, according to the commission’s guidelines, is essentially a “legal question for the Court to determine, not a question of fact for the jury.” In its December 4 filing, the SEC seeks to avoid the complication of opening the debate over whether the cryptocurrencies in the Terraform Labs case meet the Howey test, which establishes the criteria for defining a security.
The Sandbox and Hungama Partner to Create a New Experience in the Metaverse
A new strategic alliance between SandBlock and Hungama will allow the creation of Hungama World, an experience in the Bollywood Metaverse that will feature several attractions that will show the futuristic city of Mumbai up close, which will also include attractions such as a museum, a nightclub, a concert on the beach, shops and much more.
The Sandbox project, a play-to-earn game that combines blockchain, DeFi and NFT technology in a 3D world, recently posted on its X account, formerly known as Twitter, that it will launch Hungama World on December 4. According to The Sandbox’s latest tweet, the platform will celebrate the magic of Bollywood.
By Audy Castaneda
