Fidelity has submitted an amended application to the SEC for its Bitcoin spot ETF, now allowing in-kind redemption. This update, reported by Bitcoin Magazine, is a significant step as it addresses the SEC's previous concerns about market uncertainties and potential manipulation. In-kind redemption means investors can receive actual Bitcoin when redeeming their ETF shares, rather than just cash. Previously, the SEC had only permitted cash redemption for BTC spot ETFs. The industry has long advocated for in-kind redemption, citing its tax efficiency and enhanced market liquidity. This amendment signals a potential shift in the SEC's stance and could pave the way for greater acceptance of Bitcoin spot ETFs. Allowing in-kind redemption would align these ETFs with traditional commodity ETFs and provide investors with more flexibility and control over their assets. The SEC's decision on this amended application is eagerly anticipated by the crypto community. ```

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