U.S. SEC Considers Modifying BlackRock's Spot Bitcoin ETF Proposal to Allow Physical Redemptions
The U.S. Securities and Exchange Commission is considering a proposal to change BlackRock's spot bitcoin exchange-traded fund to allow in-kind redemptions. In a filing released Thursday recognizing the proposal, the SEC asked for comments to be submitted within 21 days of the filing's publication in the Federal Register. The agency could then decide to approve, reject or “commence proceedings,” the document said. According to the Form 19b-4 filing, Nasdaq last month issued an amended rule filing on behalf of BlackRock to allow redemptions and physical creation of the iShares Bitcoin Trust.
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