Binance News
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BlackRock's Proposed Bitcoin ETF Named IBIT, According to Revised S-1 Filing
According to Foresight News, BlackRock's proposed spot Bitcoin ETF has been named IBIT, as revealed in a revised S-1 filing submitted to the US Securities and Exchange Commission (SEC). The updated document also includes new wording regarding the creation and redemption mechanisms that the fund will adopt. The filing states that 'the trust will continuously issue and redeem a basket of currencies,' and 'these transactions will be exchanged for cash. Subject to the approval of the physical regulatory authorities, these transactions can also be exchanged for Bitcoin.' In addition, Ark 21Shares and WisdomTree submitted revised S-1 filings for their proposed spot Bitcoin funds to the SEC on Monday, which have yet to be approved.
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