:black::rock: BlackRock files to allow in-kind creations and redemptions for its spot Bitcoin ETF. However, only the Authorized Participants (institutions) will be able to do this.
https://junkflex.co...
I guess this could be a way for governments to move seized BTC and similar "unintentional holders" away from self custody while still keeping the exposure. Seems very odd, so likely purpose built for some very specific use cases there is behind the scenes needs for.