US SEC Approves Two Major Upgrades for Crypto ETFs: “In-Kind” Redemptions and 10x Options Limit
Main Idea
The U.S. SEC has approved in-kind creation and redemption for spot Bitcoin and Ethereum ETFs, along with raising position limits for Bitcoin ETF options to 250,000 contracts, to enhance liquidity and operational efficiency.
Key Points
1. SEC approves in-kind creation and redemption for spot Bitcoin and Ethereum ETFs, allowing direct exchange of crypto for ETF shares.
2. Position limits for Bitcoin ETF options increased from 25,000 to 250,000 contracts to boost market liquidity.
3. FLEX options introduced, enabling customizable Bitcoin ETF derivatives trading terms.
4. Approval applies to major U.S. exchanges like Nasdaq, NYSE Arca, and Cboe BZX, covering ETFs from firms like BlackRock, Ark21, and Fidelity.
5. SEC Chairman Paul S. Atkins states the decision supports a rational regulatory framework for American investors.
Description
SEC approves in-kind creation and redemption for spot Bitcoin and Ethereum ETFs. Position limits for Bitcoin ETF options raised to 250,000 contracts to boost liquidity. FLEX options introduced, allowing customizable Bitcoin ETF derivatives trading terms. The U.S. Securities and Exchange Commission (SEC) has officially approved “in-kind” creation and redemption for spot Bitcoin and Ethereum ETFs. The order , dated July 29, marks a major operational upgrade for the massive and rapidly growing cryp...
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