Nasdaq Files for In-Kind Redemptions for BlackRock Spot Bitcoin ETF

2 days ago · Nasdaq has filed a proposed rule change to allow in-kind creation and redemption for the BlackRock iShares Bitcoin Trust (IBIT), according to a Friday filing to the U.S. …

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BlackRock Pushes For In-kind Redemption Model In IShares Bitcoin …

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2 days ago · BlackRock dominates the Bitcoin ETF market. BlackRock is the world’s largest Bitcoin ETF issuer, and its IBIT holdings have already exceeded $60 billion. The Farside …

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FAQs about Nasdaq Files for In-Kind Redemptions for BlackRock Spot Bitcoin ETF Coupon?

Will NASDAQ allow in-kind redemption for a spot bitcoin exchange-traded fund (ETF)?

Nasdaq has submitted a filing on behalf of asset manager BlackRock, seeking a rule change to permit in-kind creation and redemption for its spot Bitcoin exchange-traded fund (ETF). ...

Will Blackrock's spot bitcoin exchange traded fund allow cash redemptions?

Dec 19 (Reuters) - BlackRock BLK.N has updated its proposed filing for a spot bitcoin exchange traded fund (ETF) to allow cash redemptions, in a move which could help it secure an approval from the U.S. Securities and Exchange Commission. ...

Will NASDAQ allow in-kind bitcoin transfers?

Nasdaq proposed “to allow for in-kind transfers of the Trust’s Bitcoin,” as per a Jan. 24 filing with the US Securities and Exchange Commission (SEC). ...

Are in-kind redemptions a good idea for ETFs?

Terry said that in-kind redemptions also play a vital role in the tax efficiency of ETFs. “By allowing the exchange of shares for underlying assets, ETFs can minimize capital gains distributions, which can be a benefit for investors holding shares in the fund,” Terry said. ...

Should Blackrock have iShares Bitcoin Trust (Ibit)?

Bloomberg ETF analyst James Seyffart said in a Jan. 24 X post that BlackRock “should have been allowed to do this from the get-go” when the BlackRock iShares Bitcoin Trust (IBIT) launched alongside the other ten US spot Bitcoin (BTC) ETFs in January 2024. On the same day as the filing, six more crypto ETF applications were filed in the US. ...

How does Blackrock's Bitcoin Trust work?

"The Trust issues and redeems baskets on a continuous basis. These transactions will take place in exchange for cash. Subject to the in-kind regulatory approval, these transactions may also take place in exchange for bitcoin," BlackRock's iShares Bitcoin Trust ETF said in a regulatory filing late on Monday. ...