Bitcoin ETF Milestone: Nasdaq Files In-Kind

Nasdaq Seeks In-Kind Redemptions for BlackRock Bitcoin ETF

• The process allows authorized participants (APs) to buy and redeem shares directly in bitcoin.
• APs can efficiently monitor ETF demand and trade shares without cash involvement.
• Retail investors are not eligible to participate in this process.
• The SEC initially approved spot bitcoin ETFs with cash redemption options.
• BlackRock’s IBIT attracted nearly $40 billion in inflows in its first year.

BlackRock’s IBIT, the largest spot BTC ETF, achieved a record debut with nearly $40 billion in inflows, highlighting the efficiency of direct bitcoin transactions for institutional investors. Retail investors remain excluded from this innovative process.