We Need In-Kind Redemptions For The Spot Bitcoin ETFs

Credit : bitcoinmagazine.com

On a current episode of the Coinage podcast, visitor SEC Commissioner Hester Peirce mentioned she is open to reconsidering in-kind redemptions for spot bitcoin ETFs.

(For these unfamiliar with the time period “in-kind redemption,” it refers back to the means to take into your personal custody the bitcoin you bought via an ETF. Basically, it turns a bitcoin IOU into the actual factor .)

BREAKING: SEC Commissioner Hester Peirce Previews New Professional-Crypto Modifications Coming to the SEC

ETF redemptions in form and the power for ETF issuers to start out deploying are prone to be made ‘early’

Each ETFs now have greater than $100 billion in belongings beneath administration pic.twitter.com/g3jtbuBeWU

— Cash (@coinage_media) December 20, 2024

This makes my coronary heart comfortable as a result of Bitcoin was not designed to be trapped within the shells of the outdated system. It was constructed to free us from that system.

If Peirce can work with the SEC’s new chairman, Paul Atkins, to facilitate the approval of in-kind redemptions, then the spot bitcoin ETFs might function one of many largest stepping stones to Bitcoin, as Bitwise co-founder Hong Kim put it : relatively than merely current as autos of hypothesis.

Bitcoin was born to exist within the wild. It wasn’t born to exist in a Wall Road zoo.

In-kind refunds would be sure that the bitcoin presently trapped within the zoo can return to its pure habitat.

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