Nasdaq Applies to SEC for Physical Transfers of iShares Bitcoin Trust

Odaily News Nasdaq has submitted a proposed rule change to the SEC to update the iShares Bitcoin Trust, which will allow for the transfer of trust bitcoins in a “physical transfer” manner.
“The Exchange now proposes to amend the prior rule document’s statement of purpose regarding the Trust’s creation and redemption process in order to list and trade the Shares, specifically to permit the Trust’s in-kind transfer of Bitcoin,” according to the new filing. “The proposed in-kind transfer process would be an alternative to the Trust’s current cash creation and redemption process.”
Bloomberg ETF analyst James Seyffart tweeted that the potential revised process would not mean individual investors would be able to conduct “in-kind” redemptions and creations, only authorized participants.