Cboe represents Inveso Galaxy in applying to the US SEC, allowing its Bitcoin and Ethereum ETFs to be physically redeemed
The Cboe BZX Exchange has submitted a proposed rule change on behalf of Inveso Galaxy to the U.S. Securities and Exchange Commission (SEC) to allow its spot Bitcoin ETF and Ethereum ETF to create and redeem shares in kind. Physical redemption and creation allows for the direct exchange of the underlying assets of the ETF (Bitcoin or Ethereum) for ETF shares, eliminating the need for cash.
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