Bitwise Dogecoin, Aptos ETFs Update: Key Changes
Bitwise has updated its filings with the U.S. SEC for its proposed Dogecoin and Aptos ETFs. Notably, the new filings include in-kind creations and redemptions, a significant addition welcomed in the crypto space, according to Bloomberg's Eric Balchunas. This change aligns with other spot ETF approvals and reflects ongoing SEC engagement. The inclusion of in-kind redemptions, which allows investors to receive underlying assets instead of cash, is seen as a crucial feature for crypto funds. There is currently a high number of crypto-related ETF filings under SEC review, with increased expectations for approval this year. Aptos, developed by Aptos Labs, and Dogecoin are among the leading cryptocurrencies by market cap, reinforcing the potential impact of these ETFs.
FAQ
❓ What are in-kind redemptions?
In-kind redemptions allow ETF investors to exchange their shares for the underlying assets rather than cash.
❓ Why is the inclusion of in-kind redemptions significant?
It provides flexibility and may improve market efficiency and liquidity for cryptocurrency ETFs.
❓ What is the importance of the SEC in ETF filings?
The SEC's approval is crucial for launching ETFs in the U.S. market, and its engagement indicates progress in crypto fund management.