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SEC Posts Memorandum Exploring BlackRock and Grayscale ETF Proposals
The US Securities and Exchange Commission (SEC) on Sunday revealed on its website one memorandum detailing discussions with financial giant BlackRock (NYSE: BLK), and another with crypto asset manager Grayscale Investments. These memos involved proposed rule changes concerning the listing and trading of spot Bitcoin exchange-traded funds (ETFs) by both companies.
SEC Memorandum May Indicate Progress with BlackRock and Grayscale ETF
One memorandum from the SEC showed that on November 20th, the Commission deliberated on rule modifications for the listing and trading of the iShares Bitcoin Trust ETF. The discussions noted two distinct ETF redemption models: the In-Kind Redemption Model and the In-Cash Redemption Model. The former involves final redemptions in Bitcoin shares held by the ETF. On the other hand, the latter swaps Bitcoin shares for equivalent cash. In a tweet, Bloomberg ETF analyst James Seyffart
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