BlackRock and ARK adjust Bitcoin ETF plans to comply with SEC's cash-only model

Cryptocurrencies

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BlackRock, ARK Invest, and WisdomTree are updating their applications for a US Bitcoin exchange-traded fund (ETF) to comply with cash redemption requirements set by the US Securities and Exchange Commission (SEC).

The updates to the S-1 registration statements were filed on 18 December and see the firms move towards accepting a cash redemption system over "in-kind" redemptions, such as non-monetary Bitcoin payments.