Nasdaq’s Bitcoin ETF Shift Could Strengthen BlackRock’s Market Position

Nasdaq has taken a decision on Bitcoin ETFs, particularly aimed at BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT), that may make existing and potential Bitcoin investors breathe a sigh of relief. On Jan. 24, in an SEC filing, the exchange proposed a rule change, seeking to introduce “in-kind” Bitcoin creation and redemption. This will offer a more efficient alternative to the current cash-based system.

The proposed system lets authorized participants (APs) exchange ETF shares directly for Bitcoin instead of cash. This will allow cost-cutting and operational efficiency by avoiding the need to sell Bitcoin for cash.

Although retail investors are not eligible to participate directly in in-kind redemptions, the streamlined process could enhance efficiency and potentially reduce overall costs, indirectly benefiting retail market participants.

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