updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131hustle domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131wpforms-lite domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131Investment manager Blackrock had on Monday, December 18, 2023 submitted an amendment to the form S-1 for its iShares Bitcoin Trust as part of its spot Bitcoin ETF filing with the U.S. Securities and Exchange Commission (SEC).
Also Read: Coinbase Introduces USD SWIFT Transfers in Singapore for Broader Crypto Onramp
It appears that the deadlock around spot Bitcoin ETF approval is centered around the redemption model behind operations for the ETFs. In this direction, Blackrock amended its form S-1 in its latest filing. In the filing, the investment manager left the “in-kind” redemptions part unconfirmed for approval by the SEC while confirming the cash redemption system. It said,
“These transactions will take place in exchange for cash. Subject to the In-Kind regulatory approval, these transactions may also take place in exchange for Bitcoin.”
It remains to be seen if the US SEC would eventually approve the cash redemption model, before or after the formal approval of the Bitcoin ETF.
Also Read: UK Launches Regulatory Framework for Digital Securities Sandbox
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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