In another sign of growing mainstream acceptance of digital assets, US regulators have approved a key process that brings cryptocurrency exchange-traded products (ETPs) closer to their traditional counterparts.
The US Securities and Exchange Commission (SEC) on Tuesday approved the use of creation and in-kind redemption mechanisms in cryptocurrency exchange-traded products (ETPs), marking a significant shift from the cash-only model that has existed until now.
While the distinction between cash and in-kind redemption is a topic only understood by specialists, it has become a hot topic in the cryptocurrency community, particularly after the SEC's reluctance, under the previous Gary Gensler administration, to allow brokerage firms and securities dealers to deal with cryptocurrencies
