CBOE BZX requests U.S. SEC approval for in-kind redemptions in Invesco Galaxy BTC, ETH ETFs

CBOE BZX Exchange has submitted a rule change proposal to the U.S. Securities and Exchange Commission (SEC), requesting approval for in-kind creations and redemptions of its shares for Invesco Galaxy’s spot Bitcoin (BTC) and Ethereum (ETH) ETFs. According to Decrypt, this mechanism would allow institutions to exchange ETF shares directly for the underlying assets, reducing costs and improving trading efficiency. The SEC has opened a public comment period before making a final decision.