Bloomberg Analyst: First set of Bitcoin spot ETFs rumored to pass will only allow cash creation

Odaily News Bloomberg Senior ETF Analyst Eric Balchunas posted on the X platform that the most important thing everyone is discussing is whether the SEC will allow physical creation. There are rumors that the first group will only allow cash creation. Many issuers are prepared for both (if BlackRock wins the SECs backing, many will do so in kind as well. If not, theyll exit in cash). Another unknown is whether Grayscale will be allowed to convert into the first group of ETFs.