The US Securities and Exchange Commission (SEC) has extended its review period for NYSE Arca's application concerning the Bitwise Bitcoin (BTC) and Ethereum (ETH) spot redemption exchange-traded fund (ETF). As reported by Decrypt, this delay pushes back the potential approval of the ETF, which would allow for direct creation and redemption of ETF shares using BTC and ETH. This decision follows the SEC's ongoing scrutiny of cryptocurrency-related investment products. The primary concern revolves around market manipulation and investor protection. A spot redemption ETF would directly hold Bitcoin and Ethereum, unlike futures-based ETFs that the SEC has previously approved. The extension grants the SEC more time to assess the potential risks and benefits associated with a spot redemption mechanism. Market participants are closely watching the SEC's decision, as the approval of such an ETF could signal a significant step forward for mainstream crypto adoption and provide easier access to digital assets for investors. The new deadline for a decision has not been publicly announced. ```

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