The US SEC has extended its decision deadline on whether to allow in-kind redemptions for Bitwise’s spot Bitcoin and Ether ETFs on NYSE Arca.
The United States Securities and Exchange Commission (SEC) extended its deadline for ruling on in-kind redemptions for two separate crypto exchange-traded funds (ETFs).
According to a Wednesday SEC filing, the regulator will take more time to decide whether to allow in-kind redemptions on NYSE Arca for Bitwise’s Bitcoin (BTC) and Ether (ETH) spot ETFs. The time limit for the decision was extended, but the underlying limit remains “45 days, extendable to no more than 90.”
“The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change, and the issues raised therein,” the announcement read.
