BlackRock's proposed spot bitcoin ETF was christened with the ticker IBIT, according to an amended S-1 filing on Monday with the Securities and Exchange Commission.
The updated filing also included new language about the creation and redemption mechanism to be employed by the fund, a topic of recent meetings between BlackRock and SEC officials.
"The Trust issues and redeems Baskets on a continuous basis," according to the filing. "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."
Ark 21Shares and WisdomTree also filed amended S-1 filings with the SEC on Monday for their proposed spot bitcoin funds. The regulator has yet to approve one, although the market has surged amid optimism that a decision could be closer.
