While positive decisions about the cryptocurrency industry continue to emerge from the SEC, the latest news comes from Bitcoin (BTC) and Ethereum (ETH).
Therefore, Bloomberg analyst James Seyfert said it is likely that the SEC will approve a refund for the physical Bitcoin and Ethereum ETFs.
Seyffart cited numerous filings filed with the SEC yesterday, saying advances have been made in the SEC following recent submissions by the issuer and following recent submissions to add in-kind payments to Bitcoin and Ethereum ETFs.
At this point, Seyffart noted that five publishers with CBOE Bitcoin and Ethereum ETF have revised their prospectus and cited “positive actions” from the SEC regarding approval of the funds’ redemption in kind.
These include the Invesco Galaxy, Ark 21shares, Vaneck, Wisdomtree and Fidelity.
Analysts noted that these changes could be indications that the issuer has reached an agreement with federal regulators regarding requests to add in-kind refunds to BTC and ETH ETF funds.
“More positive indications regarding the availability of Bitcoin and Ethereum ETFs for physical creation and redemption
Five different funds from CBOE have submitted amendments to the SEC. For me, this shows positive moves and possible tweaks in the SEC. ”
Spot Redition is a way in which ETF investors are repaid with actual virtual assets (cryptocurrency) rather than cash, and is considered to be advantageous in terms of market efficiency and taxation.
*This is not investment advice.
