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JUST IN: 🇺🇸 SEC just met with ALL spot Bitcoin ETF issuers and told them to remove any reference to "in-kind" redemptions from their filings. "Cash creates" only.

It's a done deal. 🤝

Negotiating the finer details.

Slimer 2y ago

What does in-kind and cash crates mean? Any significance in this?

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Discussion

Byzantine 2y ago

i believe this means they have to buy on a specific exchange and sell on a specific exchange so you can only source and liquidate bitcoin on Coinbase

Fryheid 2y ago

Cash creates means buying a bitcoin ETF share with cash and in-kind means exchanging bitcoin for a bitcoin ETF share

Fryheid 2y ago

Err, other way around. You can only cash out your bitcoin ETF shares for fiat, not for the equivalent in bitcoin