"Spot Redemption Approval for Bitcoin (BTC) and Ethereum (ETH) ETFs Signals Positive Indicator"
Summary
- Bloomberg analyst James Seyffart stated that a positive signal has been detected regarding the spot redemption approval of Bitcoin (BTC) and Ethereum (ETH) spot ETFs.
- He reported that five ETFs listed on the Chicago Board Options Exchange (CBOE) have submitted amended documents to the U.S. Securities and Exchange Commission (SEC), indicating positive progress within the SEC.
- He explained that spot redemption is a method of repaying ETF investors with actual virtual assets rather than cash, and that this is evaluated as beneficial for market efficiency and taxation.
James Seyffart, a Bloomberg analyst, stated on the 22nd (local time) via his X (formerly Twitter) account that a "positive indicator has been detected" regarding the spot redemption approval of Bitcoin (BTC) and Ethereum (ETH) spot exchange-traded funds (ETFs).
He explained, "Five ETFs listed on the Chicago Board Options Exchange (CBOE) have submitted amended documents to the U.S. Securities and Exchange Commission (SEC)," adding, "This is evidence that positive progress is being made within the SEC."
He further noted, "It appears that the process has entered the detailed coordination phase."
Spot redemption is a method where ETF investors are repaid not in cash but in actual virtual assets (cryptocurrencies), which is considered advantageous in terms of market efficiency and taxation.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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