{"id":30162,"date":"2024-12-20T23:22:52","date_gmt":"2024-12-20T23:22:52","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=30162"},"modified":"2024-12-20T23:22:52","modified_gmt":"2024-12-20T23:22:52","slug":"we-need-in-kind-redemptions-for-the-spot-bitcoin-etfs","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=30162","title":{"rendered":"We Need In-Kind Redemptions For The Spot Bitcoin ETFs"},"content":{"rendered":"<p>                        Follow Frank on <a href=\"https:\/\/x.com\/frankcorva\">X<\/a>.<\/p>\n<p>On a recent episode of the Coinage podcast, guest SEC Commissioner Hester Peirce said that she is open to reconsidering in-kind redemptions for spot bitcoin ETFs.<\/p>\n<p>(For those who aren\u2019t familiar with the term \u201cin-kind redemption,\u201d it refers to the ability to withdraw the bitcoin you\u2019ve purchased via an ETF into your own custody. In essence, it turns a bitcoin IOU into the real thing.)<\/p>\n<p>BREAKING: SEC Commissioner Hester Peirce previews new pro-crypto changes coming to the SEC<\/p>\n<p>ETF in-kind redemptions and ability for ETF issuers to begin staking likely done &#8220;early on&#8221;<\/p>\n<p>Both ETFs now have more than $100B in AUM <a href=\"https:\/\/t.co\/g3jtbuBeWU\">pic.twitter.com\/g3jtbuBeWU<\/a><\/p>\n<p>\u2014 Coinage (@coinage_media) <a href=\"https:\/\/twitter.com\/coinage_media\/status\/1870084709503643873?ref_src=twsrc%5Etfw\">December 20, 2024<\/a><\/p>\n<p>This makes my heart happy, as bitcoin wasn\u2019t designed to exist trapped within the wrappers of the old system. It was built to set us free from that system.<\/p>\n<p>If Peirce can work with the incoming SEC Chair, Paul Atkins, to facilitate the approval of in-kind redemptions then the spot bitcoin ETFs can serve as some of the biggest on-ramps to Bitcoin, as Bitwise co-founder Hong Kim <a href=\"https:\/\/bitcoinmagazine.com\/business\/bitwise-brings-the-bitcoin-ethos-to-wall-street-\">put it<\/a>, as opposed to simply existing as speculation vehicles.<\/p>\n<p>Bitcoin was born to exist in the wild. It wasn\u2019t born to exist in a Wall Street zoo.<\/p>\n<p>In-kind redemptions would allow the bitcoin currently trapped within the zoo the ability to return to its natural habitat.<\/p>\n<p><em>This article is a <\/em><a href=\"https:\/\/bitcoinmagazine.com\/takes\/bitcoin-magazine-introduces-opinion-takes\"><em>Take<\/em><\/a><em>. Opinions expressed are entirely the author&#8217;s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.<\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>Follow Frank on X. On a recent episode of the Coinage podcast, guest SEC Commissioner Hester Peirce said that she is open to reconsidering in-kind redemptions for spot bitcoin ETFs. (For those who aren\u2019t familiar with the term \u201cin-kind redemption,\u201d it refers to the ability to withdraw the bitcoin you\u2019ve purchased via an ETF into [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":30163,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-30162","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30162"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30162"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30162\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/30163"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}