SEC Considers Proposal For BlackRock's Bitcoin ETF Redemption Changes

According to Odaily, the U.S. Securities and Exchange Commission (SEC) is evaluating a proposal to modify BlackRock's spot Bitcoin exchange-traded fund (ETF) to permit physical redemption. In a document released on Thursday acknowledging the proposal, the SEC has invited public comments within 21 days following its publication in the Federal Register. The document indicates that the agency may subsequently decide to approve, reject, or initiate proceedings on the proposal. Last month, Nasdaq, on behalf of BlackRock, submitted a revised rule filing under Form 19b-4, which allows for the redemption and physical creation of the iShares Bitcoin Trust.