NASDAQ has submitted proposed rules to allow the BlackRock IsharaS Bitcoin Trust (Ibit) to create and redeem the actual product. Friday Submitted to the US Securities and Exchange Commission (SEC).
This process allows a large -scale institutional investor called APS (APS) directly can purchase and redeem the funds of the fund (BTC).
AP is considered more efficient because AP can act quickly by buying and selling fund stocks without being involved in the process. Retail investors are not qualified to participate.
When the SEC first approved the first approval of the Bitcoin ETF, a SEC including Ibit in January last year, the agency allowed to set money with cash on behalf of Bitcoin.
“It should have been approved in the first place, but Gensler/Crenshaw did not want to allow it for many reasons they gave,” said Bloomberg Intelligence ETF Analyst James Seyffart. I wrote it in X。 “mainly [they] I didn't want the broker to touch the actual bitcoin. “
BlackRock's Ibit is the largest BTCETF in the market. attract In the first year, there were nearly $ 40 billion inflow, which has been the most successful ETF debut so far.
