While promoting innovation, the SEC has also made significant optimizations to existing cryptocurrency financial products. This week, the SEC voted to approve orders that allow cryptocurrency asset exchange-traded products (ETPs, including Bitcoin and Ethereum ETFs) to create and redeem in-kind.
This means that authorized participants can directly use cryptocurrencies to exchange shares with ETF issuers without needing to convert to cash first. SEC Chairman Atkins stated that this move will make these products cheaper and more efficient for investors, aligning with standard practices for other commodity-based ETPs.
The market generally believes that the introduction of a physical redemption mechanism will further lower the threshold for institutional investors to enter the crypto market, enhance market liquidity, and is regarded as an important milestone for the maturity of the crypto market and the acceleration of institutional adoption.
#美sec推动加密创新监管 #以太坊ETF批准预期 #ETP #華爾街
