BlackRock, SEC Meet Privately to Discuss Next Step of Crypto ETFs
In a quietly held meeting that could have major implications for the future of crypto investing, BlackRock sat down with the U.S. Securities and Exchange Commission (SEC) on April 1 to talk about possible changes in how crypto ETFs function — specifically, shifting from cash-based redemptions to in-kind redemptions.
The meeting, held behind closed doors with the SEC’s newly formed Crypto Task Force, was centered on technical aspects of crypto exchange-traded products (ETPs). BlackRock, which has already filed to include in-kind redemptions in its spot Bitcoin ETF, is pushing for a system where ETF shares can be directly exchanged for assets like Bitcoin instead of cash. It’s a model that’s common with traditional commodity-based…
