The SEC seeks comments on BlackRock's bitcoin ETF physical redemption and delays Solana and Dogecoin proposals
2025-05-13 21:49:38
The Securities Exchange Commission on Tuesday delayed a decision on whether to allow physical redemptions of BlackRock's bitcoin ETF and began seeking public comment. "The Commission initiated a review process under Section 19 (b) (2) (B) of the Securities and Exchange Act to determine whether to approve or reject the proposed rule change," the SEC said. Previously, the SEC favoured a cash model, in which bitcoins are sold immediately after being moved out of storage and cash is returned to investors. If physical redemptions are approved, "ETFs may be more efficient to trade," said James Seyffart, an analyst at Bloomberg. In addition, the SEC also postponed consideration of the Grayscale Litecoin Trust, Solana Trust and 21Shares Dogecoin ETF, and also sought public comment.
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