SEC Kicks BlackRock’s Bitcoin ETF Can Down the Road—Again

Wall Street’s favorite waiting game continues as regulators punt on crypto’s holy grail.

Public comments flood in—because nothing says ’efficient markets’ like letting Twitter randos shape trillion-dollar financial products.

Meanwhile, Bitcoin hodlers shrug and keep stacking sats while traditional finance plays paperwork bingo.

If approved, the in-kind model WOULD allow the fund to exchange Bitcoin for shares directly, thus enhancing trading efficiency. Bloomberg analyst James Seyffart pointed out that this could make ETFs more efficient in general.

Nasdaq had filed an updated rule change in January to support this new model. The SEC is now officially reviewing whether to approve or reject the change.

The delay is part of a broader trend. On the same day, the SEC also paused decisions on the Grayscale Litecoin and Solana Trusts and requested public feedback on the 21Shares Dogecoin ETF.

Since President Donald Trump took office in January, the SEC has taken a softer tone on crypto. Under new Chair Paul Atkins, the agency has dropped several lawsuits and is hosting public roundtables to reshape crypto regulation. Atkins outlined his vision for a more open approach on Monday.

The investors and crypto firms are keenly following these moves because they can determine the future of crypto ETFs in the U.S. The next few months may see significant changes in the way these digital assets are regulated and traded.

Also Read: When Will US SEC Approve In-Kind Crypto ETF Redemptions?