🚨#Cardano fam, this is BIG!!

In-kind transfer means The authorized participant (AP: financial institutions, JP Morgan, Goldman Sachs) delivers the creation basket (BTC/cash) to the ETF issuer( Blackrock). This transfer is typically done in-kind, meaning the AP exchanges the actual BTC for newly created ETF shares rather than providing cash. This means AP’s will have to buy $BTC on the open market!

The creation and redemption mechanism of ETFs ensures that the ETF prices closely track the net asset value of the underlying BITCOIN contributing to a more efficient market.

TLDR: $BTC = Moon Mission 🚀🚀
@cardano_whale
#Cardano