BlackRock’s proposed spot bitcoin ETF has been given the ticker symbol IBIT, as per the latest filing submitted to the Securities and Exchange Commission (SEC). This filing also included additional information regarding the fund’s creation and redemption mechanism, which has been a subject of discussion between BlackRock and the SEC. The amended filing states that the Trust will issue and redeem Baskets continuously, primarily in exchange for cash, and potentially in exchange for bitcoin, subject to regulatory approval. In addition, Ark 21Shares and WisdomTree also submitted amended filings for their spot bitcoin funds on the same day. While the SEC is yet to approve any bitcoin ETFs, the market is experiencing a surge in anticipation of a potential decision being announced soon.
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BlackRock’s proposed spot bitcoin ETF gets a ticker in latest filing with SEC
