BlackRock would inject $2 billion of capital into bitcoin ETFs next week

Matthew Sigel, from the firm VanEck, commented that the information about BlackRock and bitcoin ETFs was obtained from “a well-positioned source.”

BlackRock is one of the largest investors in the world. . Source: stock.adobe.com

Key facts:

BlackRock is one of the companies awaiting approval from the SEC to offer bitcoin spot ETFs.

The SEC has until January 10 to give its verdict on the first applications for these ETFs.

According to an anonymous source from VanEck's director of digital asset research, Matthew Sigel, financial giant BlackRock has more than $2 billion that it plans to inject into bitcoin spot exchange-traded funds (spot ETFs).

The news was announced in a space on X, formerly Twitter, hosted by The Block's editor-in-chief, Tim Copeland. The sum of money would be intended to cover the “new growing flows of bitcoin holders” only during the first week, just after the SEC approves applications for bitcoin spot ETFs.

The deadline for the United States Securities and Exchange Commission (SEC) to approve or reject the first pending applications is January 10 of this year. That is, next Wednesday.

Therefore, if it receives early approval, BlackRock could begin its money injection next week.