BlackRock Files Revised Bitcoin Spot ETF, Commits to Cash Purchase and Redemption Mechanism

WikiBit 2023-12-21 14:10

BlackRock Submits Revised Filing for Bitcoin Spot ETF, Pledges to Implement Cash Creation and Redemption Mechanis

On Monday, BlackRock submitted a revised application for a spot Bitcoin ETF to the SEC. The filing revealed that BlackRock's ETF would employ a cash purchase and redemption mechanism, a model that the SEC favors.

Earlier, on December 14th, Invesco and Galaxy had submitted the third amended S-1 filing for the “Invesco Galaxy Bitcoin ETF” to the U.S. SEC. The document pledged a commitment to focus on launching a Bitcoin ETF created solely through cash.

Eric Balchunas, an ETF analyst at Bloomberg, pointed out that this is a clear signal indicating the SEC's preference for cash-based creation methods for initial ETF product approvals.

Disclaimer：

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.