Bitwise adds in-kind redemptions to DOGE, APT ETF filings
Over 70 crypto exchange-traded funds are awaiting review from the United States Securities and Exchange Commission.
Bitwise has amended its proposed Dogecoin and Aptos exchange-traded funds to include in-kind redemptions, according to filings on Thursday. The updates come as discussions around altcoin ETFs and redemption structures gain traction with US regulators.
In-kind redemptions allow investors to exchange ETF shares directly for the underlying tokens. The mechanism is considered more tax-efficient and can appeal to all types of investors, from institutional to retail.
In February, the SEC sought comments on a proposal to allow in-kind creations and redemptions for spot Bitcoin (BTC) and Ether (ETH) ETFs. During a panel at the Bitcoin Policy Institute on Wednesday, US Securities and Exchange (SEC) Commissioner Hester Pierce said in-kind redemptions for crypto ETFs are on the horizon.
