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Breaking new ground for digital assets, the U.S. Securities and Exchange Commission has approved a major change allowing in-kind creations and redemptions for crypto exchange-traded products (ETPs). This shift marks a departure from previous rules that only permitted cash transactions for spot bitcoin and ether ETFs.
SEC Chairman Paul S. Atkins called the decision a key step toward building a fit-for-purpose regulatory framework for crypto markets. He said the move will help reduce costs, increase efficiency, and align crypto ETPs with other commodity-based funds, offering more flexibility to investors and issuers.
Jamie Selway, Director of the Division of Trading and Markets, said the update will help create a more dynamic and accessible crypto ETF market. The SEC also approved several new proposals, including ETPs holding both bitcoin and ether, options on spot bitcoin ETPs, and increased position limits. These decisions highlight the Commission’s commitment to fair and balanced crypto regulation.
