Replying to Avatar CappyNate🍁

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Jor 2y ago

Wtf does “seed it’s spot bitcoin” mean?

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CappyNate🍁 2y ago

Means Blackrock starts buying BTC. They need to own some Bitcoin when the ETF launches. ETF's don't launch empty of holdings.

So they start accumulating BTC pre-launch, get the creation/redemption mechanism running. It's a sign they're confident the ETF will approve soon.

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Jor 2y ago

Heavily agree with that.

But don’t you think they’ve been quietly accumulating bitcoin for the last 6-12 months?

I figured that’s why the price was being suppressed - so they could stack more