NASDAQ has made a proposed change to allow the regular construction and recovery of Blackrock ISHARES Bitcoin Trust (IBIT), according to Friday Submission to the US Securities and Stock Exchange Committee (SEC).
The process allows for adult institutional investors, named APS, to buy and recover the fund’s shares directly to Bitcoin (BTC).
It is considered more efficient because APS allows the demand to monitor ETF closely and act quickly by buying or selling the box shares without involving money in this process. Retail investors are not eligible to participate.
When SEC first agreed to SEC Bitcoin Etfs including IBIT last January, the agency allowed money to launch cash redemption, instead of bitcoin.
“It should have been approved in the first place, but Gensler/Crenshaw did not want to allow this for a full set of reasons they provided.” Books on x. “especially [they] The mediators do not want to touch the actual bitcoin. “
Ibit Blackrock’s Ibit is the largest BTC ETF spot on the market, attract Nearly $ 40 billion of flows in its first year, making it the most successful ETF appearance ever.
