The agency approved in-kind redemptions for spot Bitcoin and Ethereum ETFs last week, but the move may just the beginning for Atkins’ SEC.
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Bitcoin, Ether and other crypto ETFs are no longer limited to cash transactions — they can use in-kind creation and redemption.
Advisors are bearish on crypto, but alternative coin ETFs may not be the products they’re looking for, experts said.
Atkins’ nomination is a breath of fresh air for the crypto crowd, who felt Gensler dragged his feet on policy.
Wealth managers are getting held-away crypto assets in-house through ETFs and separately managed accounts.
The funds that track the second-largest cryptocurrency were off to the races in late July, but have been stuck in the ether ever since.