SEC Delays Decision on BlackRock Bitcoin Redemption Mechanism, Public Comments Sought

The U.S. Securities and Exchange Commission (SEC) has put a hold on its decision regarding BlackRock’s iShares Bitcoin Trust, delaying the ruling on their proposed physical redemption mechanism. The agency is requesting public input on the plan before issuing a final verdict. Currently, the existing cash redemption model involves custodians selling Bitcoin to investors after providing the original funds. Analysts believe that allowing for physical redemptions could streamline ETF trading processes.