In the early hours of Wednesday Beijing time, the SEC suddenly announced the approval of physical redemptions for $BTC and $ETH spot ETFs. This marks the most significant "institutional upgrade" for crypto assets within the U.S. regulatory framework following the approval of spot ETFs, indicating that BTC and ETH have officially attained the same status as mainstream assets like gold. This is the "final piece" for global institutional compliance in allocating crypto assets.

SEC Chairman Paul S. Atkins stated that the regulatory approach is shifting towards a framework that adapts to the crypto market, advocating for the establishment of a suitable and reasonable regulatory framework for the crypto asset market. The physical redemption mechanism will lower ETF costs, enhance efficiency, and benefit all investors.

This indicates that the SEC is transitioning from defensive regulation to constructive regulation, acknowledging that BTC and ETH are commodity-like assets and should be treated similarly to commodity-type ETPs.

This article is sponsored by #Bitget ｜ @Bitget_zh

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