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Post by The BTC Philanthropist
Dr. Jeff Ross
This is actually a big deal. 👀
TFTC
BlackRock has updated its #Bitcoin ETF proposal to allow "in-kind" redemptions, enabling investors to redeem shares for actual Bitcoin instead of cash.
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GUIâš¡
How is it a big deal? Because it allows sovereignty? Or for another reason?
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Slippery Gazelle
Can withdraw bitcoin rather than cash and avoid creating a tax event.
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GUIâš¡
Didn't know about the tax event. Seems weird though, why wouldn't it trigger one?
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Slippery Gazelle
Because only cash can be redeemed and not bitcoin.
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The BTC Philanthropist
what would you rather have when you sell etf shares ? 1. us dollars 2. real btc prior you only had option 1 this makes it a lot better to actually get the option to have real BTC and it means they have more pressure to keep real reserves ...
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