Cboe Applies to SEC for Physical Redemption of Invesco Galaxy Bitcoin and Ethereum ETFs
03-13 11:04
<p>Odaily News Cboe BZX Exchange has filed a rule change application with the U.S. Securities and Exchange Commission (SEC) to allow physical creation and redemption of the Invesco Galaxy Spot Bitcoin ETF and Ethereum ETF.<br/> This mechanism allows authorized participants to directly exchange ETF shares using Bitcoin or Ethereum instead of cash transactions, thereby reducing bid-ask spreads, reducing transaction costs, and avoiding additional brokerage commissions. However, ordinary investors still need to trade ETFs in cash.<br/> Currently, the SEC has opened a public comment period, and relevant stakeholders can submit feedback before the final decision. (Decrypt)<br/></p>
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