{"id":32421,"date":"2024-12-20T23:22:52","date_gmt":"2024-12-20T23:22:52","guid":{"rendered":"http:\/\/ci02ef8b4f30002623"},"modified":"2025-02-19T11:04:41","modified_gmt":"2025-02-19T16:04:41","slug":"we-need-in-kind-redemptions-for-the-spot-bitcoin-etfs","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/takes\/we-need-in-kind-redemptions-for-the-spot-bitcoin-etfs","title":{"rendered":"We Need In-Kind Redemptions For The Spot Bitcoin ETFs"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><figure><img decoding=\"async\" src=\"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/01\/1_takes-banner.png\" title=\"\"><\/figure>\n<p>On a recent episode of the Coinage podcast, guest SEC Commissioner Hester Peirce said that she is open to reconsidering in-kind redemptions for spot bitcoin ETFs.<\/p>\n<p>(For those who aren\u2019t familiar with the term \u201cin-kind redemption,\u201d it refers to the ability to withdraw the bitcoin you\u2019ve purchased via an ETF into your own custody. In essence, it turns a bitcoin IOU into the real thing.)<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BREAKING: SEC Commissioner Hester Peirce previews new pro-crypto changes coming to the SEC<\/p>\n<p>ETF in-kind redemptions and ability for ETF issuers to begin staking likely done &quot;early on&quot;<\/p>\n<p>Both ETFs now have more than $100B in AUM <a href=\"https:\/\/t.co\/g3jtbuBeWU\">pic.twitter.com\/g3jtbuBeWU<\/a><\/p>\n<p>&mdash; Coinage (@coinage_media) <a href=\"https:\/\/twitter.com\/coinage_media\/status\/1870084709503643873?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">December 20, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>This makes my heart happy, as bitcoin wasn\u2019t designed to exist trapped within the wrappers of the old system. It was built to set us free from that system.<\/p>\n<p>If Peirce can work with the incoming SEC Chair, Paul Atkins, to facilitate the approval of in-kind redemptions then the spot bitcoin ETFs can serve as some of the biggest on-ramps to Bitcoin, as Bitwise co-founder Hong Kim <a href=\"https:\/\/bitcoinmagazine.com\/business\/bitwise-brings-the-bitcoin-ethos-to-wall-street-\">put it<\/a>, as opposed to simply existing as speculation vehicles.<\/p>\n<p>Bitcoin was born to exist in the wild. It wasn\u2019t born to exist in a Wall Street zoo.<\/p>\n<p>In-kind redemptions would allow the bitcoin currently trapped within the zoo the ability to return to its natural habitat.<\/p>\n<p><em>This article is a <\/em><a href=\"https:\/\/bitcoinmagazine.com\/takes\/bitcoin-magazine-introduces-opinion-takes\"><em>Take<\/em><\/a><em>. Opinions expressed are entirely the author&#8217;s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hopefully, SEC Commissioner Hester Peirce isn\u2019t playing when she says she\u2019ll reconsider in-kind redemptions for spot bitcoin ETFs.<\/p>\n","protected":false},"author":2510,"featured_media":21679,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[332,59,183,4293,135],"class_list":{"0":"post-32421","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-takes","8":"tag-bitcoin-spot-etf","9":"tag-opinion","10":"tag-sec","11":"tag-securities-and-exchange-commission","12":"tag-spot-bitcoin-etf"},"author_data":{"id":2510,"name":"Frank Corva","nicename":"frank-corva","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/03\/Frank_Corva-1.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/not-a-great-precedent-commissioner-discusses-the-secs-latest-etf-decision.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/32421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2510"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=32421"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/32421\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/21679"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=32421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=32421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=32421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}