Cboe Seeks SEC Nod to Allow In-Kind Transactions for Bitcoin and Ethereum ETFs 📈
The Cboe BZX Exchange has requested SEC approval for a rule change to permit in-kind transactions for ARK 21Shares Bitcoin ETF and 21Shares Core Ethereum ETF. These transactions allow ETF shares to be created or redeemed using assets like Bitcoin or Ethereum, instead of cash.
This method aims to maintain ETF prices in line with asset value while reducing costs and taxable events for investors. The filing, submitted on January 27, aligns with BlackRock's similar recent application.
James Seyffart, a Bloomberg analyst, suggests in-kind transactions streamline ETF processes and improve trading efficiency. The proposed changes signify a movement towards more cost-effective and streamlined ETF operations.
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