Yesterday, the SEC approved in-kind creations and redemptions for the Bitwise Bitcoin ETF $BITB and the Bitwise Ethereum ETF $ETHW, along with several other spot crypto ETPs.  It’s big news—and a long time coming. What is it? In-kind creation and redemption is a process where ETF shares are exchanged for the underlying assets—like bitcoin—instead of cash, helping reduce costs and improve tax efficiency. Why it matters:  •More efficient—can streamline transactions, tighten trading spreads, and increase tax efficiency for ETPs   •Mainstream signal—brings spot crypto ETPs closer in line with traditional-asset ETPs and ETFs, which have done in-kind transactions for decades For years, we, our partners, and others in the industry have been pushing for this change to bring investors the most efficient means of accessing crypto possible.  Another milestone in a big year for this space.  Let’s go.

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I'm pleased to share the SEC approved in-kind creations and redemptions for crypto ETPs. The approvals continue to build a rational regulatory framework for crypto, leading to a deeper and more dynamic market, which will benefit all American investors.

Looks like SEC just approved in-kind creation / redemption for all spot bitcoin and ether ETFs.

JUST IN: SEC approves in-kind redemptions and creations for Bitcoin and crypto ETFs

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