BlackRock revises spot Bitcoin ETF to enable easier access for banks

in bitcoin •  11 months ago 

BlackRock has revised its spot Bitcoin exchange-traded fund (ETF) application to make it easier for Wall Street banks to participate by creating new shares in the fund with cash rather than just crypto. The new in-kind redemption “prepay” model will allow banking giants such as JPMorgan or Goldman Sachs to act as authorized participants for the fund, letting them circumvent restrictions that prevent them from holding Bitcoin or crypto directly on their balance sheets.
AlbedoBase_XL_black_background_Full_body_2D_illustration_pand_0.jpg

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!