SEC delays in-kind redemption decision for Bitwise crypto ETFs

Key Points

1. The SEC will take more time to decide on in-kind redemptions for Bitwise’s Bitcoin and Ether spot ETFs on NYSE Arca.

2. In-kind redemptions would allow investors to redeem ETFs for the underlying assets, potentially affecting tax implications.

3. The SEC’s delay follows previous approvals but now involves further review, with Grayscale’s attorneys alleging a violation of statutory deadlines.

4. The SEC’s approach to crypto regulation has shifted under new leadership, emphasizing innovation but maintaining scrutiny.