Market
Which major institutional investor will first utilize in-kind redemptions for ARK 21Shares Bitcoin ETF by December 31, 2025?
3
Resolution / Starting Odds
Goldman Sachs • 25%
Morgan Stanley • 25%
Fidelity • 25%
Other • 25%
Publicly reported transactions and announcements from major financial institutions
Story
Nasdaq and Cboe Seek In-Kind Redemptions for BlackRock's IBIT, ARK 21Shares, and 21Shares Core ETFs
Jan 27, 2025, 10:11 PM
Nasdaq and Cboe have filed proposals with the U.S. Securities and Exchange Commission (SEC) to allow in-kind creations and redemptions for spot Bitcoin and Ethereum exchange-traded funds (ETFs). Nasdaq's filing specifically targets BlackRock's iShares Bitcoin ETF (IBIT), aiming to enable institutional investors to redeem ETF shares directly for Bitcoin instead of cash. Similarly, Cboe's filing seeks to amend rules for the ARK 21Shares Bitcoin ETF and the 21Shares Core Ethereum ETF to facilitate in-kind transactions. These moves are seen as significant steps towards enhancing the operational efficiency and attractiveness of crypto ETFs to institutional investors.
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