Hester P. Peirce, a guest on the Coinage Podcast recently said that she would be open to re-evaluating in-kind redemptions of spot bitcoin ETFs.
For those unfamiliar with the word “in-kind redemption,” This refers the the option to transfer the bitcoins you have purchased using an ETF to your personal custody. It is a way to convert a bitcoin-based IOU (IOU) into the actual thing.
Hester Peirce, SEC commissioner previews new crypto-friendly changes to be made by the SEC
ETF redemptions in kind and the ability of ETF issuers begin to stake likely completed "early on"
The AUM of both ETFs has now exceeded $100 billion pic.twitter.com/g3jtbuBeWU
— Coinage (@coinage_media) December 20, 2024
I’m happy about this, because Bitcoin wasn’t built to remain trapped inside the old system. The system was designed to free us from it.
Hong Kim, Bitwise’s co-founder, believes that spot bitcoin ETFs could be some of the largest on-ramps for Bitcoin. put itAs opposed to just existing as speculation vehicles.
Bitcoin was designed to be a wild currency. The Wall Street zoo was not where it began.
Bitcoins trapped in the zoo can be redeemed for goods to allow them to go back to their habitat.
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Source: bitcoinmagazine.com
