Golden Finance reported that Nasdaq submitted a modified regular file on behalf of Berrye on Friday to allow Berlaide Ishares Bitcoin Trust Fund to carry out physical redemption. Under normal circumstances, when investors want to sell ETFs, they will get redemption in the form of cash. The physical redemption means that investors can choose to use the underlying assets (that is, Bitcoin) invested by ETF for redemption. One year before the Securities and Exchange Commission (SEC) approved the spot Bitcoin ETF, each company has been discussing the specific technical details of how such products are redeemed. The SEC tends to use cash redemption, which means that when investors want to redeem their Bitcoin ETF share, fund management companies (such as Palegers) must first sell the Bitcoin held, and then sell them to be sold, and then sell them. Bitcoin cash is returned to investors.