This is huge. It means that (large) investors can withdraw BTC from their ETFs without incurring capital gains tax. Also: more power for consumers means big incentive for ETFs to keep 100% reserves, provide attestations, etc. TL;DR: Big boon for liquidity & trustworthiness.
Eric Balchunas
Eric Balchunas30.7.2025
Looks like SEC just approved in-kind creation / redemption for all spot bitcoin and ether ETFs.
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