SEC approves in kind repayments for BTC and ETFS

SEC approves in kind repayments for BTC and ETFS

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The US Securities and Exchange Commission (SEC) has approved repayments in kind for spot Bitcoin and Ethereum ETFs, which marks the first major crypto policy shift from the agency among new chairman Paul Atkins.

When the funds were approved last year, it was based on in-cash, which means that shares had to be exchanged for cash. This made an extra reimbursement because the underlying assets had to be sold first.

With the recent step of the SEC, authorized representatives, such as Goldman Sachs and JP Morgan, have the possibility to exchange shares for the underlying assets and vice versa.

“Investors will benefit from these approvals because they make these products less expensive and more efficient,” said SEC chairman Paul Atkins in a July 29 rack.

Atkins wants to develop “Fit-for-PURPOS” Crypto-Regulation Framework

Since Donald Trump entered the White House for a second term and Atkins was mentioned as the new chairman of the SEC, there is a noticeable villain in crypto attitude away from the Anit-Crypto-positioning under the Gary Gender regime.

Atkins said in the announcement that an “important priority” for him, while he is the SEC chairman, is to develop a clear regulation framework for digital assets that is “suitable”.

The approval of repayments in kind comes after the American congress has adopted three important crypto accounts earlier this month. One of them, the genius act, was also signed by Trump in the law.

The relocation of the SEC also comes in the midst of the growing demand for spot crypto ETFs. Our spot Bitcoin ETFs recently alone included A 12 -day intake line, with $ 6.6 billion that comes in during this period.

In the meantime, spot ETFs are currently at a $ 5.4 billion, 18-day intake streak.

SEC approves other ETF orders

In addition to the in -kind repayments, the SEC also approved various other orders on crypto -based products.

They include exchange applications that want to mention and trade a combined BTC and ETH product, options in certain location Bitcoin products, flexible exchange options on shares of certain Bitcoin-based products, as well as an increase in position limits for options.

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