贝莱德修订后的现货比特币 ETF 提案支持现金赎回

作为一项战略举措，贝莱德修改了其现货比特币 ETF 备案，将现金赎回纳入其中，这是 SEC 批准的潜在催化剂。这一变化符合传统的市场惯例，旨在减轻对欺诈的担忧。 ETF的持续发行和篮子赎回将主要以换取现金为目的，这可能会增强其对投资者的吸引力。

BlackRock Modifies Spot Bitcoin ETF Filing, Enabling Cash Redemptions

贝莱德修改现货比特币 ETF 备案，实现现金赎回

New York, NY - In a significant development that could pave the way for regulatory approval, BlackRock, the world's largest asset manager, has revised its filing for a spot bitcoin exchange-traded fund (ETF) to incorporate cash redemptions.

纽约 - 全球最大的资产管理公司贝莱德修改了其现货比特币交易所交易基金（ETF）的备案文件，将现金赎回纳入其中，这是一项可能为监管部门批准铺平道路的重大进展。

The amended filing, submitted to the U.S. Securities and Exchange Commission (SEC), allows investors to redeem units of the ETF for cash, in addition to the previously proposed in-kind redemptions, where investors would receive bitcoin in exchange for their ETF shares.

提交给美国证券交易委员会 (SEC) 的修改后的文件允许投资者将 ETF 单位赎回为现金，此外还有之前提议的实物赎回，即投资者将收到比特币以换取 ETF 份额。

This strategic adjustment addresses a major concern raised by the SEC in its previous rejections of spot bitcoin ETF applications, which cited concerns over the potential for fraud and the lack of a robust regulatory framework for physical bitcoin trading.

这一战略调整解决了 SEC 在之前拒绝现货比特币 ETF 申请时提出的一个主要担忧，该申请提到了对潜在欺诈行为以及实物比特币交易缺乏强有力的监管框架的担忧。

"The Trust issues and redeems baskets on a continuous basis. These transactions will take place in exchange for cash. Subject to the in-kind regulatory approval, these transactions may also take place in exchange for Bitcoin," BlackRock's iShares Bitcoin Trust ETF said in a regulatory filing late on Monday.

贝莱德旗下 iShares 比特币信托 ETF 表示：“该信托基金持续发行和赎回篮子。这些交易将换取现金。在获得实物监管批准的情况下，这些交易也可能会换取比特币。”周一晚些时候提交的监管文件。

The SEC has previously denied all applications for spot bitcoin ETFs, expressing skepticism about the ability to prevent market manipulation and protect investors from fraud. However, the market remains hopeful that BlackRock's latest modification, coupled with the ongoing regulatory scrutiny of crypto exchanges and custodians, could improve the chances of approval.

SEC 此前拒绝了所有现货比特币 ETF 的申请，对防止市场操纵和保护投资者免受欺诈的能力表示怀疑。然而，市场仍然希望贝莱德的最新修改，加上对加密货币交易所和托管机构正在进行的监管审查，可以提高获得批准的机会。

A spot crypto ETF would mirror the price movements of the underlying cryptocurrency, providing investors with exposure to bitcoin without the complexities and risks associated with purchasing and storing it directly.

现货加密货币 ETF 将反映基础加密货币的价格走势，为投资者提供比特币投资机会，而无需承担直接购买和存储比特币的复杂性和风险。

"This change could address one of the main concerns that the SEC has cited in rejecting previous spot Bitcoin ETFs, and could significantly increase the chances of BlackRock's ETF being approved," said a market analyst.

一位市场分析师表示：“这一变化可能会解决美国证券交易委员会在拒绝之前现货比特币 ETF 时提到的主要担忧之一，并可能大大增加贝莱德 ETF 获得批准的机会。”

The revised filing has reinvigorated the crypto market, which has faced a series of challenges and meltdowns in recent times. Several other traditional finance heavyweights, including Fidelity and Charles Schwab, have also filed for spot bitcoin ETFs, signaling growing institutional interest in the crypto asset class.

修改后的文件重振了加密货币市场，该市场近年来面临一系列挑战和崩溃。其他几家传统金融巨头，包括富达 (Fidelity) 和嘉信理财 (Charles Schwab) 也申请了现货比特币 ETF，这表明机构对加密资产类别的兴趣日益浓厚。

The SEC is expected to rule on BlackRock's latest filing early next year, and its decision will have a profound impact on the future of digital assets and the role of financial institutions in the crypto market.

预计 SEC 将于明年初对贝莱德最新提交的文件作出裁决，其决定将对数字资产的未来以及金融机构在加密市场中的作用产生深远影响。