US SEC Reviews BlackRock’s Proposal for Bitcoin ETF In-Kind Redemptions 📑
The U.S. Securities and Exchange Commission (SEC) is currently reviewing BlackRock's proposal to enable in-kind redemptions for its spot Bitcoin ETF. This development was made public in a recent filing, where the regulatory body invited public comments regarding the proposal. Individuals interested in weighing in on this proposal have 21 days from its publication in the Federal Register to submit their feedback.
The proposal suggests that investors could receive Bitcoin instead of cash upon redemption, potentially setting a precedent for how cryptocurrency ETFs function in the future. BlackRock's move comes amid growing interest and investment in the cryptocurrency sector.
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