💥 BREAKING: BlackRock just filed to allow in-kind creation and redemption on their Bitcoin ETF $IBIT
This mean Authorised Participants can deposit and withdraw Bitcoin to and from the ETF. 🔥
This function has always existed in ETFs
Read something of this nature last year. Only Authorized participants (APs) can make deposit and withdrawal with Bitcoin. These APs are large institutions or investors.
I find this pretty strange, maybe im wrong but..... its not against the idea/nature of the ETF itself?.
No it's not. The deposited BTC helps in creation of new shares without disrupting the market that are given to the APs. So quite same.