Friday, Nasdaq asked for authorization from the Securities and Exchange Commission (SEC) to allow the exchange of shares of the ETF Bitcoin Spot of BlackRock for real BTC. What would it change?
Exchanging shares of Etf Bitcoin for real BTC?
Now a year ago, The first ETF Bitcoin (BTC) spot were finally approved By the Securities and Exchange Commission (dry), after long slowdowns and blockages. But for the time being, intermediaries who buy shares of said ETF can only exchange them for money, and not against real bitcoins.
Nevertheless, this could be about to change, due to the request for modification of Nasdaq for the Ibit of BlackRock. Indeed, a new form 19 B-4 requests the dry for authorization so that The shares of the BlackRock ETF Bitcoin can be claimed against BTC ::
The Stock Exchange now proposes to modify the declarations relating to the process of creating and buying the trust, such as stated in the previous deposit of rules for the registration and negotiation of shares, in order to specifically allow transfers in kind of Bitcoins held by the trust.
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For James Seyffart, analyst at Bloomberg, if this new model will not change much for private investors, it should however rationalize the process in the background by reducing a certain number of steps. He also explains that this request was also originally present, but that the Democratic Commissioners of the SEC opposed it:
Wow. WAY TO MANY QUESTIONS AND THIS STUFF GOES PRETTY DEEP IN THE WEEDS. So iTL Keep it High Level and Answer “What Does This Mean?”
Not all that much for individual retail investors. Mostly What It Means is that etfs should trade Even more Efficiently Than they already do⊠pic.twitter.com/lwyskmo5sh
– James Seyffart (@jseyff) January 24, 2025
Just a week, we saw The dry radically changed position with regard to the cryptocurrency ecosystem. Thus, this request could well be accepted quickly for the BlackRock ETF and followed up on similar changes to other competing funds.
If this and the case, it will be curious to see if the financial gains made by this novelty will affect the costs paid by the final investor.
đ In the news also-Donald Trump orders the abandonment of MNBC projects in the United States
To date, the IBIT has more than $ 60 billion in assets under management. In parallel, the price of the BTC is $ 104,800 when writing these lines, up 0.75 % in 24 hours.
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Source: Nasdaq
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Since 2021, I have devoted my free time to seriously train myself on cryptocurrencies in order to acquire maximum knowledge and credibility. I often have the opportunity to carry out interviews with influential personalities from the blockchain industry. I also conduct in -depth analyzes on web3 themes to offer exclusive content to cryptoast readers.
Vincent Mayor
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