TechFlow reports, citing Charles Gasparino, senior correspondent at Fox Business Network, that the U.S. Securities and Exchange Commission (SEC) is holding joint conference calls with potential applicants for spot Bitcoin ETFs.
According to sources, the SEC’s focus is on ensuring investors use cash rather than Bitcoin when purchasing ETF shares, and it has required issuers to remove any references to in-kind redemptions from their filings.
Adopting the "cash creation" approach means ETF issuers must convert Bitcoin into cash for each transaction—a more complex and time-consuming process—requiring issuers to source Bitcoin directly rather than through broker-dealers.
Add to Favorites
Share to Social Media
