US SEC Commissioner: Applications related to crypto ETF physical purchase and redemption mechanisms are under review

Foresight News reported that during a panel discussion at the Bitcoin Policy Institute on Wednesday, someone inquired whether the SEC would approve a physical purchase and redemption mechanism and whether it is 'coming soon.' Commissioner Hester Peirce stated, 'These (applications) are currently under review. So I believe that at some point, a physical purchase and redemption mechanism will definitely arrive. I cannot predict in advance, but we have heard that many companies are very interested in this.'