Foreign media: BlackRock may purchase $10 million worth of ETH to fund its Ethereum ETF

ChainCatcher news, according to trustnodes, BlackRock may purchase $10 million worth of ETH to fund its Ethereum ETF.

In a filing submitted to the U.S. Securities and Exchange Commission (SEC), BlackRock stated, "On May 21, 2024, an affiliate of the sponsor, Seed Capital Investors, conditionally purchased Seed Creation Baskets containing 400,000 shares at a price of $25 per share, with the total proceeds from the sale of Seed Creation Baskets amounting to $10,000,000."

The trust fund intends to use the proceeds from the Seed Creation Baskets to purchase ETH at some point, which may not have been done yet.