NASDAQ submits a SEC filing to allow BlackRock's Spot Bitcoin ETF in -kind transfer, simplifying the process of certified participants.
Nasdaq is an application submitted to the US Securities and Exchange Commission, which “enables the systematic transfer of trasting bitcoin” is the specific conditions made in the first proposal of the ISHARES Bitcoin (BTC) Trust. We proposed on behalf of black rock to fix it.
“The proposed actual relocation process will be replaced by the current cash creation and redemption process of the trast,” Nasdaq wrote in the document.
If the correction is approved, Ibit investors who fall into the category of the approved participant can exchange basic assets and bitcoin ETF shares instead of cash. These basic assets can also include bitcoin. Certified participants are usually not individual shareholders, but large companies. Reduction of the actual thing helps maintain the mobility of ETFs to simplify the process.
Bloomberg ETF analyst Analyst James Seifert said in a recent post that the process of trading ETFs would be “rationalized at less steps and those involved in the involvement of those involved”. 。 He also takes a Jab at SEC when operated under Gary Gensler to carry out cash redemption for regulation preferences.
“In my opinion, ETFS should have been allowed to do this from GET-GO, but DEM [Democratic] SEC commissioner opposed it, “said Seyffart.
This change may not be a significant meaning for individual investors, but it gives IBit investors a great deal. Apart from fluid, Bitseeker Consulting's chief architect, Chris J. TERRY, it can play a major role in tax efficiency to minimize the capital gain distribution and bring profits to shareholders. I mentioned.
As previously reported by Crypto.news, BLACKROCK's Ibit appeared at the top of the 12 Bitcoin ETF, with a pure inflow of $ 661 million in Trump's first business day. However, inflow has slowed through the past week.
On January 22, BLACKROCK's Ibit added 6,470 BTC to 563,134 BTC. BlackRock's Ibit Bitcoin Holdings is currently rated $ 55.6 billion based on the current market prices.
