US SEC approves physical redemption of ETP shares of crypto assets

PANews reported on July 30 that according to the SEC official website, the U.S. Securities and Exchange Commission (SEC) voted to allow authorized participants to make physical subscription and redemption of shares of crypto-asset exchange-traded products (ETP). This move marks that spot ETPs such as Bitcoin and Ethereum will be able to adopt physical redemption methods like other commodity ETPs to improve product efficiency and reduce costs. SEC Chairman Paul S. Atkins said the move will help establish a more reasonable crypto asset regulatory framework for the benefit of investors. In addition, the SEC has approved a number of exchange applications related to crypto assets, including mixed spot Bitcoin and Ethereum ETP, related options, and increasing the holding limit of Bitcoin ETP options.

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