The SEC is considering modifying BlackRock's spot Bitcoin ETF proposal to allow for physical redemptions

ChainCatcher news, according to The Block, the SEC is considering a proposal to change BlackRock's spot Bitcoin exchange-traded fund to allow for physical redemptions. In a document acknowledging the proposal released on Thursday, the SEC requested comments to be submitted within 21 days after the document is published in the Federal Register. The document states that the agency may then decide to approve, deny, or "initiate proceedings."

According to the 19b-4 form filing, Nasdaq last month released a revised rule filing on behalf of BlackRock that allows for redemptions and physical creations of the iShares Bitcoin Trust.