TechFlow News — On December 7, Fidelity met with the U.S. Securities and Exchange Commission (SEC) to discuss its proposed spot Bitcoin ETF. Fidelity submitted a presentation titled "Bitcoin ETF Workflow," which detailed the "in-kind" creation and redemption model. The presentation emphasized that in-kind creation and redemption are critical for enhancing trading efficiency and secondary market pricing.
In this context, Fidelity filed an updated S-1 form regarding its proposed spot fund. Previously, BlackRock also submitted a presentation on a "revised in-kind model design" during its meeting with the SEC. This highlights growing attention from regulators and asset managers on the technical details of proposed funds, particularly issues related to the in-kind model.
