On a recent episode of the Coinage podcast, guest SEC Commissioner Hester Peirce said she's open to reconsidering in-kind redemptions for spot bitcoin ETFs.
(For those unfamiliar with the term “unbundled freedom,” it refers to the ability to withdraw the bitcoin you bought through an ETF at your own risk. In effect, it turns a bitcoin IOU into be a real sight.)
BREAKING: SEC Commissioner Hester Peirce previews new pro-crypto changes coming to the SEC
Resolution in the form of ETFs and the ability for ETF issuers to begin engaging "early"
Both ETFs now have over $100B in AUM pic.twitter.com/g3jtbuBeWU
— Coinage (@coinage_media) December 20, 2024
This makes my heart happy, because bitcoin was not designed to be locked within the confines of the old system. It was built to free us from that system.
If Peirce can work with incoming SEC Chairman Paul Atkins to get approval for a settlement in homosexuality, the spot bitcoin ETF could be one of the biggest online ramps to Bitcoin, as co-founder of Bitwise Hong Kim. put itas opposed to just existing as speculative vehicles.
Bitcoin was born to exist in the desert. He wasn't born to be in the Wall Street zoo.
Redemption in kind will allow the bitcoin currently locked inside the zoo to return to its natural habitat.
This article is a Take. The views expressed are entirely those of the author and do not necessarily reflect the views of BTC Inc or Bitcoin Magazine.
