Major companies in the market, such as BlackRock and ARK Invest, have modified their S-1 registration statements in order to comply with the requirements imposed by the United States Securities and Exchange Commission. When it comes to their planned spot Bitcoin exchange-traded funds (ETFs), this update includes a significant move toward a cash redemption approach.
This strategic decision, which was signified by the submission of these revisions on December 18, 2023, symbolizes the embrace of a cash creation and redemption model over the in-kind redemptions that had been pursued in the past. Generally speaking, in-kind redemptions entail transactions that do not require …
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