#CreatorPad

• The Securities and Exchange Commission (SEC) approved the creation and redemption of cryptocurrencies for Exchange-Traded Funds (crypto ETFs) (effective from July 2025)

• Allows for the direct exchange of assets for fund shares without using cash as an intermediary

• The "liquidation" analysis reveals that this aligns with the mechanism of traditional commodity funds

Market Benefits

• Reduced trading costs by eliminating transfer fees

• More accurate tracking of fund prices due to reduced spreads

• Enhanced participation of financial institutions by simplifying mechanisms

• The structural impact is estimated to bring in up to $50 billion over 12 months