Nasdaq's application to SEC allows ISHARES Bitcoin Trust to transfer

PANews reported on January 25 that, according to The Block, the Nasdaq Stock Market (Nasdaq) submitted a rule change proposal to the US SEC to update the relevant regulations of the iShares Bitcoin Trust. This update will allow the transfer of trust bitcoins as a “physical transfer.”

According to the new document, “The exchange now proposes to amend the statements in the previous rule document regarding the trust creation and redemption process in order to list and trade the shares and, in particular, to allow for in-kind transfers of Bitcoin from the trust.” “The proposed in-kind transfer process would become the trust’s Alternatives to current cash creation and redemption processes.”

Bloomberg ETF analyst James Seyffart tweeted that the potential revision process does not mean that individual investors will be able to conduct "physical" redemptions and creations, only authorized participants.