In-Kind Bitcoin ETF Redemptions Are “A Bigger Deal Than You Think,” Says Expert

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The US Securities and Exchange Commission on July 29 approved orders permitting in-kind creations and redemptions for Bitcoin and crypto exchange-traded products, reversing the cash-only constraint that governed January’s spot bitcoin launches and this spring’s ether funds. In a formal statement, the agency said bitcoin and ether ETPs “will be permitted to create and redeem shares on an in-kind basis,” aligning them with the mechanics long used by commodity ETPs. “It’s a new day at the SEC,” Cha...