The US SEC has just officially confirmed that it has received the key supplementary documents submitted by Bitwise regarding their spot Bitcoin and Ethereum ETF applications! This document mainly discusses the topic of 'physical redemption'.
What is 'physical redemption'? Simply put, it’s a great thing for us ordinary investors!
Imagine if you buy this ETF fund and later want to exchange it for actual Bitcoin or Ethereum to hold yourself instead of just cash, this 'physical redemption' mechanism allows you to be more flexible, and the cost might be lower! This is much better than just being able to redeem for cash; it’s closer to the essence of cryptocurrency itself. Bitwise's recent modification is aimed at making the product more user-friendly and more aligned with the habits of crypto enthusiasts!
The key point is: this time it’s a dual approach with Bitcoin and Ethereum!
The amendment submitted by Bitwise this time covers both their application for a spot Bitcoin ETF and a spot Ethereum ETF. This indicates that both companies are actively preparing, and their plans are more mature. The SEC accepting the documents means that the review process is moving forward, and they need to seriously look at Bitwise's new proposal.
Conclusion: A key step has been taken!
The SEC has confirmed receipt of the documents; although it is not yet final approval, this is definitely a positive and significant signal! It shows that Bitwise's proposal is progressing, and the SEC is processing it. This lays a solid foundation for the eventual realization of spot Bitcoin and Ethereum ETFs in the future!
Big D says: This matter is worth paying attention to! Physical redemption is one of the key points in the game between institutions and the SEC. Bitwise's proactive actions being accepted is an encouragement for the entire sector. Of course, the final decision still depends on the SEC, but every step forward brings the dream of a 'true crypto ETF' closer! We will keep monitoring!
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