📈SEC Approves In-Kind Crypto ETF System

✅ The SEC now allows crypto ETFs to use in-kind creations and redemptions.

✅ This means asset managers can swap Bitcoin (BTC) and Ethereum (ETH) directly for ETF shares, without converting to cash.

⭕️What It Means

✅ Improves efficiency and reduces costs for ETF issuers.

✅ Does NOT allow retail investors to redeem ETFs for actual crypto.

✅ Analysts call it a “backend upgrade,” not a retail game-changer.

✅ Industry Response

✅ Bitwise is the first to adopt the new system for its Bitcoin and Ether ETFs.

✅ Bitwise says it aligns crypto ETFs with traditional ETFs, improving pricing accuracy, spreads, and operations.

✅ Other ETF issuers are expected to follow.

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