BlackRock's $11 Trillion iShares Bitcoin Trust ($IBIT) Files for In-Kind Redemptions, NYSE and Nasdaq Follow

BlackRock Inc.'s iShares Bitcoin Trust ($IBIT), part of a firm with a $11 trillion valuation, has filed for in-kind redemptions, allowing investors to redeem their shares for actual Bitcoin instead of cash. This move marks a shift from the trust's previous filings which focused on cash redemptions. The filing also includes provisions for in-kind creations, enabling investors to deposit Bitcoin into the trust. Both the NYSE and Nasdaq have filed proposed rule changes with the U.S. Securities and Exchange Commission (SEC) to facilitate these in-kind transactions for the iShares Bitcoin ETF.

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