The Bank of England has committed to remove £368 billion of gilts held for monetary-policy purposes by September 2034. The plan includes £20 billion of annual active sales and an average total runoff of £46 billion a year, although APF auctions will pause while the BOE reviews a possible arrangement with HM Treasury and the Debt Management Office. The initial market response was easier conditions in long-dated UK debt, while the connection to Bitcoin remains uncertain.