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TechFlow news, March 13 — Cboe BZX Exchange has filed a proposed rule change with the U.S. Securities and Exchange Commission (SEC) on behalf of Invesco Galaxy to allow its spot Bitcoin ETF and Ethereum ETF to create and redeem shares in-kind.
In-kind creation and redemption enables direct exchange between the ETF’s underlying assets (Bitcoin or Ethereum) and ETF shares, eliminating the need for cash.
Cboe BZX Exchange has filed a proposed rule change with the U.S. Securities and Exchange Commission (SEC) on behalf of Invesco Galaxy to allow its spot Bitcoin ETF and Ethereum ETF to create and redeem shares in-kind. In-kind creation and redemption enables direct exchange between the ETF's underlying assets (Bitcoin or Ethereum) and ETF shares, eliminating the need for cash.
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