$BTC

According to a post from Eleanor Terrett on X, the SEC decided to delay its decision on allowing Wisdomtreefunds and Vaneck to process creations and redemptions in BTC and ETH SPOT ETF until June 3.

It was clarified that "of the type" includes the exchange of the underlying assets (such as Bitcoin and Ethereum) directly without the need to convert in and out of cash, which is a rule enforced by Gensler's SEC. The regulator has been against regular creations because they help people avoid taxable events, although they also help maintain liquidity and price stability.