In-kind redemptions for IBIT to native BTC
It seems IBIT will eventually be able to be converted to native BTC, without creating a taxable event... but this is currently only proposed for Institutions... not retail. Would this in-kind redemption ever be possible for retail* folks? End goal would obviously be to convert IBIT to BTC without paying taxes... with the benefit of buying 2x more using 2:1 overnight margin on IBIT at 5% APR, something that cannot be achieved with buying BTC directly (crypto margin APR is ridiculously high) https://www.nasdaq.com/articles/nasdaq-proposes-kind-redemptions-blackrocks-bitcoin-etf submitted by /u/FeeElectronic5424 [link] [comments]
It seems IBIT will eventually be able to be converted to native BTC, without creating a taxable event... but this is currently only proposed for Institutions... not retail.
Would this in-kind redemption ever be possible for retail* folks? End goal would obviously be to convert IBIT to BTC without paying taxes... with the benefit of buying 2x more using 2:1 overnight margin on IBIT at 5% APR, something that cannot be achieved with buying BTC directly (crypto margin APR is ridiculously high)
https://www.nasdaq.com/articles/nasdaq-proposes-kind-redemptions-blackrocks-bitcoin-etf
[link] [comments]
