納斯達克文件允許實現貝萊德比特幣信任（IBIT）的實物創建和贖回

該過程允許稱為授權參與者（AP）的大型機構投資者將基金的股票直接購買並兌換給比特幣（BTC）。

The U.S. Securities and Exchange Commission (SEC) has received a proposed rule change from Nasdaq to permit in-kind creation and redemption for the BlackRock iShares Bitcoin Trust (IBIT), according to a Friday filing.

根據星期五的文件，美國證券交易委員會（SEC）已收到納斯達克的擬議規則更改，以允許創建和贖回黑人伊斯省比特幣信託基金（IBIT）。

The process allows large institutional investors, known as authorized participants (APs), to buy and redeem shares of the fund directly into bitcoin (BTC). It is considered to be more efficient as it allows APs to closely monitor the demand for the ETF and to act fast by buying or selling shares of the fund without cash being involved in the process. Retail investors are not eligible to participate.

該過程允許大型機構投資者（稱為授權參與者）直接購買和兌換該基金股票為比特幣（BTC）。它被認為更有效，因為它允許APS密切監視對ETF的需求，並通過購買或出售該基金的股票而無需參與該流程的基金股票來快速行動。散戶投資者沒有資格參加。

When the SEC first approved spot bitcoin ETFs including IBIT in January, the agency allowed the funds to launch with cash redemption, instead of bitcoin.

當SEC在一月份首次批准了包括IBIT在內的現貨比特幣ETF時，該機構允許資金以現金贖回而不是比特幣啟動。

"It should have been approved in the first place but Gensler/Crenshaw didn't want to allow it for a whole host of reasons they gave," Bloomberg Intelligence ETF analyst James Seyffart noted on X. "Mainly [they] didn't want brokers touching actual Bitcoin."

彭博社智能ETF分析師詹姆斯·塞耶法特（James Seyffart）在X上指出：“它應該首先獲得批准，但Gensler/Crenshaw不想允許它。”經紀人觸摸實際比特幣。”

BlackRock's IBIT is the largest spot BTC ETF on the market, attracting nearly $40 billion of inflows in its first year, making it the most successful ETF debut ever.

BlackRock的IBIT是市場上最大的BTC ETF，在第一年吸引了近400億美元的流入，使其成為有史以來最成功的ETF首次亮相。