Skip to content Skip to sidebar Skip to footer

BlackRock’s Bitcoin ETF: The Ticker Revealed in SEC Filing

BlackRock, a global financial leader, has made a significant move into the cryptocurrency market with an amended proposal for a spot bitcoin exchange-traded fund (ETF), named IBIT, according to a recent S-1 filing with the Securities and Exchange Commission.

The filing provides detailed insights into the creation and redemption process, a crucial aspect of BlackRock’s ongoing discussions with the SEC. The proposal leans towards a “cash redemption model,” but retains the flexibility for an “in-kind” process, subject to regulatory approval.

This involves continuous issuance and redemption of baskets, predominantly in cash. Bloomberg’s pro-crypto analyst, Eric Balchunas, highlights that BlackRock has opted for a cash-only model, signaling a strategic move ahead of the holiday season.

BlackRock and its affiliates are committed to stringent adherence to anti-money laundering…

Read the full article…