BlackRock, one of the largest asset managers in the world, has made changes to its proposed bitcoin spot ETF for purchase with cash, which is more in line with the regulatory requirements of the U.S. Securities and Exchange Commission (SEC). These changes relate to the method of repayment of the fund's shares. Initially, BlackRock applied to create an ETF that would only offer to buy back the fund's shares in kind, that is, in BTC stored in an investment instrument. However, now the company has decided to make amendments that will allow it to convert cryptocurrency into cash when returning shares to investors. However, BlackRock does not abandon the idea of providing the possibility of payments not only in cash, but also in bitcoins, subject to regulatory approval. Earlier, representatives of the regulator discussed with BlackRock and Fidelity the issue of how payments on a spot bitcoin ETF can take place.
