The US Securities and Exchange Commission (SEC) on Tuesday approved in-kind creations and redemptions for exchange-traded products (ETPs) related to cryptocurrencies, including spot Bitcoin and Ethereum ETFs, Reuters reported on Tuesday.
The regulator also authorized the listing of funds that hold both assets, options on certain Bitcoin ETPs, and increased position limits.
The SEC granted expedited approvals to the major exchanges — Nasdaq, NYSE Arca, and Cboe BZX — to facilitate in-kind transactions of ETFs from BlackRock, Ark21, Fidelity, VanEck, and Franklin Templeton.
The decision comes after months of pressure from the industry, and SEC Commissioner Hester Peirce hinted in June that spot redemptions were imminent.