Bitcoin ETFs are coming to town DL News – DLNews

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Adam here with some of the weeks biggest crypto stories.

The big Bitcoin exchange-traded fund debate is over. Well, at least the debate over how to handle creations and redemptions is.

Wall Street titan BlackRock bent the knee to the US Securities and Exchange Commission this week, clearing a crucial hurdle on the way to spot Bitcoin ETF approval.

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BlackRock agreed to the SECs preferred method of redemptions after weeks of deliberations.

What it means: new shares in the potential ETF will be created using cash, as opposed to exchanging the underlying asset Bitcoin for its equivalent amount of shares.

The ETF will still hold Bitcoin, nothing else changes there.

The move is all about getting ducks in row before the holidays, said Bloomberg Intelligence ETF analyst Eric Balchunas.

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Approval is looking increasingly likely.

Theres a live comment period until January 8, so its unlikely well see approval before then.

Hopefully, we can all enjoy the holiday season in the meantime!

Have a great weekend,

Adam.

Adam Morgan McCarthy is DL News London-based Markets Correspondent. Got a tip? Reach out at adam@dlnews.com.

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Bitcoin ETFs are coming to town DL News - DLNews