While positive decisions regarding the cryptocurrency industry continue to come from the SEC, the latest news came for Bitcoin (BTC) and Ethereum (ETH). Accordingly, Bloomberg analyst James Seyffart said that the SEC is increasingly likely to approve in-kind refunds for Bitcoin and Ethereum ETFs. Seyffart cited numerous filings filed with the SEC yesterday, stating that progress has been made with the SEC following recent filings by issuers to add in-kind payments to Bitcoin and Ethereum ETFs. At this point, Seyffart noted that five issuers with Bitcoin and Ethereum ETFs on the CBOE have amended their prospectuses, citing “positive action” from the SEC regarding approval of in-kind redemptions for their funds. These include Invesco Galaxy, Ark 21Shares, VanEck, WisdomTree, and Fidelity. The analyst noted that these changes could be a sign that issuers have reached an agreement with federal regulators regarding their demands to add in-kind reimbursements to BTC and ETH ETF funds. “More positive signs regarding Bitcoin and Ethereum ETFs becoming available for in-kind creation and redemption Five different funds on the CBOE have filed amendments with the SEC. This to me indicates positive movement and likely fine-tuning at the SEC.” Spot redemption is a method where ETF investors are repaid with actual virtual assets (cryptocurrencies) rather than cash, and is considered advantageous in terms of market efficiency and taxation. *This is not investment advice. Continue Reading: SEC May Soon Grant Highly-Awaited Approval for Bitcoin and Ethereum ETFs! "Positive Developments!" Bloomberg Analyst Explains
