pull down to refresh

Nasdaq Files for In-Kind Redemptions for BlackRock’s Bitcoin ETFbitcoinnews.com/markets/nasdaq-in-kind-redemption-ibit-bitcoin-etf/
30 sats \ 2 comments \ @BitcoinNews 19h bitcoin
write
preview
related posts
0 sats \ 1 reply \ @Wumbo 19h
The exchange has filed with the U.S. Securities and Exchange Commission (SEC) to allow “in-kind” bitcoin redemptions for BlackRock’s iShares Bitcoin Trust (IBIT).
However, its important to note that this change does not apply to retail investors. In-kind redemptions are only for institutional participants like APs. But experts think this will still benefit everyday investors by making Bitcoin ETFs more efficient.
He noted that regulators were hesitant to allow in-kind transfers at the time because “they didn’t want brokers touching actual bitcoin”.
reply
9 sats \ 0 replies \ @freetx 19h
In-kind redemptions are only for institutional participants like APs. But experts think this will still benefit everyday investors by making Bitcoin ETFs more efficient.
This is true, but I think together with repeal of SAB-121 (allowing banks to custody BTC), you will see solutions being offered to retail to do this.
I'm sure Fidelity is going to follow suit with a request for in-kind redemption, then via your Fidelity account they will be able to put you in/out of FBTC directly with no cap gains sales needed.
reply