Good news for the Crypto market: Bitcoin and Ethereum ETF funds are about to be traded "in kind"!

The cryptocurrency market is receiving an extremely positive signal as a series of major financial players in the US such as #Fidelity , Franklin Templeton, VanEck, 21Shares, Galaxy Digital, and WisdomTree have submitted an updated filing to the SEC. These companies are proposing to apply the "in kind" trading mechanism for their Bitcoin and Ethereum ETF funds.

Optimizing transactions and reducing tax burdens

The "in kind" mechanism allows large institutions to directly exchange cryptocurrency for ETF shares instead of using cash. This method has been widely applied and proven effective with traditional ETFs (such as stock or gold ETFs) thanks to faster speeds and especially the ability to optimize taxes.

According to James Seyffart of Bloomberg, this move indicates that the SEC is making positive progress in approving more favorable trading mechanisms for crypto ETFs. SEC Commissioner Hester Peirce has also confirmed that allowing the "in kind redemption" mechanism for crypto ETFs is getting very close and is under review.

This is an important step, not only helping ETF funds operate more efficiently but also reflecting the growing maturity and acceptance of cryptocurrency in the mainstream financial system. This promises to bring significant benefits to institutional and individual investors, promoting the sustainable development of the crypto market. #inkind