SEC Considers Modifying BlackRock’s Spot Bitcoin ETF Proposal to Allow Physical Redemptions

Odaily News 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 Thursday acknowledging the proposal, the SEC asked for comments within 21 days of the filing's publication in the Federal Register. The agency could then decide to approve, disapprove or "initiate proceedings," the filing said. Nasdaq last month issued a revised rule filing on behalf of BlackRock to allow redemptions and in-kind creations for the iShares Bitcoin Trust, according to a Form 19b-4 filing.