mleonardi247 on Nostr: Blackrock requesting in-Kind redemption on its #Bitcoin ETF is another huge catalyst ...

Blackrock requesting in-Kind redemption on its #Bitcoin ETF is another huge catalyst for #Bitcoin. Currently moving out of the ETF is cash and a taxable event. In-Kind would allow authorized participants to take position of the Bitcoin…mostly banks. Couple that with repeal of SAB 121 allowing banks to custody Bitcoin and you have FAR less friction which will attract more capital to #Bitcoin.

SELF CUSTODY is still preferred but this opens up options such as Bitcoin lending with low interest rates, LOC on ETFs, etc for those wanting it. This is BULLISH people.

https://cointelegraph.com/news/nasdaq-filing-asset-manager-blackrock-bitcoin-etf-in-kind-redemption