On February 7, The Block reported that the US SEC is considering a proposal to change BlackRock’s spot Bitcoin exchange-traded fund to allow physical redemptions. In a document released on Thursday acknowledging the proposal, the SEC requested comments within 21 days of the document’s publication in the Federal Register. The document states that the agency may then decide to approve, reject or “initiate proceedings.” According to the Form 19b-4 document, Nasdaq issued a revised rule document on behalf of BlackRock last month to allow redemptions and physical creation of the iShares Bitcoin Trust.

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