BlackRock Unveils IBIT: A New ETF for Bitcoin Investors

BlackRock Unveils IBIT: A New ETF for Bitcoin Investors



BlackRock recently updated its application for a spot bitcoin ETF, naming it IBIT in a revised S-1 filing with the Securities and Exchange Commission on Monday. This filing also introduced new details about the fund's creation and redemption process, a key discussion point in recent meetings with SEC officials. The document states, "The Trust will continuously issue and redeem Baskets, primarily in cash transactions. However, if regulatory approval is obtained, these may also be conducted in bitcoin."



In a similar move, both Ark 21Shares and WisdomTree submitted their updated S-1 filings to the SEC on Monday for their respective spot bitcoin ETFs. While the SEC has not approved any such funds yet, the anticipation of a potential approval has led to a surge in market optimism.



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