According to Cointelegraph: BlackRock, the world's largest asset manager, is understood to be considering a $10 million investment in Bitcoin (BTC), which may serve as the initial funding for its proposed Bitcoin ETF. This development is, however, dependent on the approval of the U.S. Securities and Exchange Commission (SEC).

Analysts have projected that BlackRock could make the Bitcoin purchase on January 3, 2024. This act implies a confident move by BlackRock as it waits for an SEC nod to launch its spot Bitcoin ETF, potentially the first of its kind in the United States.

The information on BlackRock's proposed Bitcoin purchase was first shared on the social media platform X, formerly known as Twitter, by market research analyst James Seyffart on December 23. It was, however, emphasized that the document outlining the anticipated purchase is yet to be made officially final or approved.

Seyffart further stated that, despite the plan suggesting a launch, it doesn't confirm the actual release date of the ETF. Instead, the date - January 3 - cleverly coincides with the creation of Bitcoin's genesis block, and is interpreted as a 'tease'.

When asked about the investment figure of $10 million, Seyffart responded that it is “fairly standard” but remains “subject to change.”

Bloomberg's Eric Balchunas also shared his views on the topic late last December. He compared BlackRock's intended $10 million purchase with its initial seed funding of $100,000 from October, noting it as a significant increase.

Talks about the Bitcoin ETF do not end with BlackRock. Bitwise has reportedly filed an S-1, with plans to bootstrap its pending Bitcoin ETF using $200 million. Balchunas remarked that this figure far surpasses the amount BlackRock is anticipated to invest in Bitcoin.

As the date marked for initiation by BlackRock is January 3, there have been several counter-reports predicting a delay to January 5. However, both dates remain speculative for now.

Despite numerous attempts to gather more information on the subject, BlackRock remains unresponsive.

In the meantime, the SEC has placed a deadline of December 29, 2023, for amendments to Bitcoin ETF applications. Organizations like BlackRock, Van Eck, and Valkyrie managed to file their amendments at the last minute. A verdict from the SEC is keenly awaited by January 10, 2024.