"Fidelity Bitcoin ETF ‘In-Kind Redemption Method’ Allowed?…US SEC Has Yet to Approve"
Summary
- There are rumors that Fidelity's Bitcoin spot ETF has been allowed to use an in-kind redemption method, but it has been reported that the SEC has not yet approved it.
- Bloomberg analyst Seyffart stated that the SEC is expected to grant approval soon.
- Five funds from the Chicago Board Options Exchange (CBOE) and Fidelity have submitted amendment proposals on the in-kind redemption method to the SEC.
News is spreading that the Fidelity Bitcoin (BTC) spot exchange-traded fund (ETF) has been granted approval for in-kind redemption, but it has been confirmed that the US Securities and Exchange Commission (SEC) has not yet approved it.
On the 24th (local time), James Seyffart, a Bloomberg analyst, stated on X, "There are rumors spreading that the Fidelity Bitcoin spot ETF has been allowed to use the in-kind redemption method, but the SEC has not approved it yet."
He added, "It is expected that the SEC will approve this method soon." Previously, Seyffart mentioned, "There are an increasing number of positive signals suggesting that the in-kind redemption method for Bitcoin and Ethereum (ETH) spot ETFs will be approved. Five funds on the Chicago Board Options Exchange (CBOE) have submitted amendment proposals to the SEC, indicating ongoing detailed coordination with the SEC."
Meanwhile, it is known that Fidelity has also submitted a revised application to the SEC, which includes a request to allow in-kind redemptions for its Bitcoin spot ETF.
Suehyeon Lee
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