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A regulatory change has opened the door for large investors to hand their Bitcoin to an ETF in exchange for shares of the fund through an in-kind transaction. By exchanging their Bitcoin for ETF shares, investors can keep the same stake in the cryptocurrency while moving it into a form the financial system recognizes, offering legitimacy and ease.
“There are still benefits of having things in the traditional financial system,” said Teddy Fusaro, president at Bitwise, whose firm executed its first in-kind transaction with the BITB ETF in August.
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