U.S. SEC officially receives revised physical redemption filing for Bitwise Bitcoin (BTC) and Ethereum (ETH) spot ETFs
Summary
- The U.S. SEC has officially received Bitwise’s amended filing regarding the physical redemption method for Bitcoin and Ethereum spot ETFs.
- This amendment allows ETF holders to receive Bitcoin and Ethereum directly, rather than cash, upon redemption.
- The SEC has not yet commented on whether final approval for the ETFs will be granted.
According to BlockBeats, a crypto-focused media outlet, on the 9th (local time), the U.S. Securities and Exchange Commission (SEC) has officially received an amended filing regarding the physical redemption method for Bitwise’s Bitcoin (BTC) and Ethereum (ETH) spot exchange-traded funds (ETFs).
This amendment includes a provision that allows ETF holders to receive Bitcoin and Ethereum, the physical assets, directly instead of cash upon redemption.
Bitwise has previously coordinated continuously with the SEC for the launch of digital asset-based ETFs in the U.S., and the physical redemption method is considered a key element for expanding institutional investor participation as well as improving transparency and efficiency in ETF management.
Meanwhile, the SEC has not yet commented on whether it will give final approval for these ETFs.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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