Blockchain InformationBlackRock Files Revised Bitcoin Spot ETF, Commits to Cash Purchase and Redemption Mechanism
On Monday,Post-90s who got rich by Bitcoin 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.
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